$11M BigBand Shareholder Settlement Gets OK

Law360, New York (September 22, 2009, 7:11 PM EDT) -- Shareholders of BigBand Networks Inc. have secured final court approval of an $11 million cash settlement resolving their securities class action against the cable equipment provider.

Judge Saundra Armstrong of the U.S. District Court for the Northern District of California gave her blessing to the deal and awarded lead plaintiffs' counsel a 25 percent cut of the settlement in an order Sept. 21.

The shareholders sought the court's approval in an Aug. 11 motion, saying the compromise came after “extensive arm’s-length negotiations.”

The plaintiffs sued BigBand...
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