Settlement In Derivative Case Against EV Company Gets Preliminary Approval

(December 7, 2023, 3:17 PM EST) -- DENVER — A federal judge in Colorado on Dec. 6 granted preliminary approval to a settlement in a shareholder derivative complaint filed by an investor who claimed that an electric vehicle manufacturer made misleading claims about its ability to scale up production following a merger, finding the settlement that includes a $1.85 million payout to be used for other legal defenses to be fair and adequate....