Vonage IPO MDL Plaintiffs Seek Approval Of $3.6M Deal

Law360, New York (November 11, 2009, 4:43 PM EST) -- Plaintiffs who sued Internet phone provider Vonage Holdings Corp. over alleged misstatements and omissions leading up to Vonage's 2006 initial public offering have asked a federal judge for final approval of a $3.6 million class action settlement.

The plaintiffs filed a motion for final approval of the proposed settlement in the U.S. District Court for the District of New Jersey on Tuesday.

A Vonage spokesman said Wednesday that the settlement would be funded by the company's directors and officers insurance, and that the deal did not...
To view the full article, register now.