Parties Seek Preliminary Approval Of $13M Securities Class Action Settlement
Mealey's (August 9, 2018, 1:48 PM EDT) -- LOS ANGELES — International supply chain UTi Worldwide Inc. will pay $13 million to settle claims that it and certain of its senior executives misrepresented the success of the company’s implementation of its new freight forwarding and financial systems in violation of federal securities laws (Michael J. Angley, et al. v. UTi Worldwide Inc., et al., No. 14-2066, C.D. Calif.).
(Motion for preliminary approval of settlement available. Document #57-180820-088B. Stipulation of settlement available. Document #57-180820-089B.)
Under the terms of the settlement, which are subject to preliminary...