Defendants To Pay $64M To Settle Claims In Long-Running Securities Suit

(July 15, 2016, 10:25 AM EDT) -- TOLEDO, Ohio — Defendants in a long-running securities class action lawsuit will pay $64 million to settle claims that they misrepresented a company’s business and financial condition in violation of federal securities laws, according to a motion for preliminary approval of settlement filed in Ohio federal court on July 14 (Plumbers & Pipefitters National Pension Fund, et al. v. Michael Burns, et al., No. 05-7393, N.D. Ohio).

(Motion for preliminary approval of settlement available. Document #57-160718-066B.)

Under the terms of the settlement, which are subject to...
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