$586M Dot-Com IPO Settlement Wins Final OK

Law360, New York (October 6, 2009, 5:53 PM EDT) -- A federal judge has approved a $586 million settlement in a massive securities case accusing banks, including Credit Suisse Group AG and Morgan Stanley, of rigging initial public offerings during the 1990s tech bubble, and has awarded plaintiffs' attorneys $217 million in fees and expenses.

Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York ruled Monday that the settlement, which puts to rest 309 separate class actions consolidated in the court, was fair, reasonable and adequate.

Judge Scheindlin ruled...
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