Gildan To Pay $22.5M To Settle Stock Inflation Suits

Law360, New York (March 2, 2011, 6:59 PM EST) -- A New York federal judge signed off on a $22.5 million settlement Wednesday that apparel maker Gildan Activewear Inc. agreed to pay to resolve multiple securities class actions pending in the U.S. and Canada.

Judge Harold Baer Jr. of the U.S. District Court for the Southern District of New York found the agreement fair, reasonable and adequate and issued an order dismissing the claims brought by the U.S. plaintiffs.

The U.S. plaintiffs, a group of investors and state retirement funds, credited mediation sessions with helping to...
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