Preliminary Approval Of $28M Settlement In Securities Class Action Suit Sought

Mealey's (June 27, 2022, 1:06 PM EDT) -- NEW HAVEN, Conn. — A lead plaintiff on June 23 asked a federal judge in Connecticut to grant preliminary approval of a $28 million settlement in a securities class action lawsuit alleging that a technology company, its CEO and the former members of its board of directors issued misrepresentations in the proxy report for the company’s merger with Samsung Electronics Co. Ltd., contending that the settlement has preliminarily met all statutory requirements for approval....