Toll Bros. To Pay $25M To End Securities Suit

Law360, New York (November 2, 2010, 6:40 PM EDT) -- Real estate developer Toll Brothers Inc. has agreed to pay $25 million to settle a securities fraud class action accusing the company and several officers and directors of misrepresenting its financial condition during the housing slump.

Without admitting wrongdoing, Toll Brothers, based in Horsham, Pa., agreed to the settlement, which was filed Thursday and awaits preliminary approval from the U.S. District Court for the Eastern District of Pennsylvania.

Toll Brothers and many of its executives and directors were sued in 2007 by The City of Hialeah...
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