Leap Wireless Settles Securites Class Suit For $13.8M

Law360, New York (February 19, 2010, 4:48 PM EST) -- Wireless communications provider Leap Wireless International Inc. has struck a $13.75 million deal to resolve a putative securities class action accusing it and several executives of making misrepresentations and omissions that inflated its stock price and ended up costing investors hundreds of millions of dollars.

Lead plaintiff New Jersey Carpenters Pension and Benefit Funds filed an "unopposed" motion Thursday in the U.S. District Court for the Southern District of California seeking preliminary approval of the deal and asking the court to certify a class for settlement...
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