$2M Deal Sought In LJ International Securities Action

Law360, New York (September 8, 2009, 5:05 PM EDT) -- Shareholders of LJ International Inc. have asked a federal judge to approve a $2 million settlement to resolve a class action alleging that the jewelry company inflated stock prices by issuing misleading financial statements.

The plaintiffs lodged a motion in support of final approval of the settlement Friday in the U.S. District Court for the Central District of California, arguing that the deal was a good result for both parties.

“The settlement of $2 million in cash, plus accrued interest, is a very good result reached...
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