SunOpta Settles Suit Over Stock Price Drop For $11M

Law360, New York (November 16, 2009, 6:13 PM EST) -- Organic food seller SunOpta Inc. has agreed to pay $11.25 million to settle a putative class action over a precipitous drop in stock prices that came after the company allegedly misrepresented its financial well-being.

Toronto, Ont.-based SunOpta denied any wrong-doing, but agreed to contribute $11.25 million to a settlement fund to resolve the claims in the case, according to a settlement agreement filed Friday in the U.S. District Court for the Southern District for New York. Investors sued the company in the wake of a 40...
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