In re initial public offering: securities litigation.

Publication: Corporate Counsel

Publication Date: 01-MAY-05

Bookmark this article Print this article Link to this article Email this article Digg It! Add to del.icio.us RSS

COPYRIGHT 2005 American Lawyer Media L.P.

Years after most dot-com fortunes vanished, tech stock investors will get some money back. On February 15 Judge Shira Scheindlin of the Southern District of New York preliminarily approved a class action settlement between 298 technology companies and their investors, who say that the businesses fraudulently inflated share prices during the initial public offering boom of the 1990s. The companies, admitting nothing, have agreed to pay up to $1 billion. The businesses will pay various amounts, up to $17.59 million for Challenger1 International.

The...

Read the full article for free courtesy of your local library.