Bankrupt Levitt Settles Securities Class Action

Law360, New York (April 15, 2011, 2:54 PM EDT) -- The parent company of bankrupt homebuilder Levitt and Sons LLC on Thursday reached a settlement in Florida with a class of investors who accused the company of making false statements to boost its stock price before filing for bankruptcy.

Judge Donald L. Graham of the U.S. District Court for the Southern District of Florida closed the case for administrative purposes and gave the two sides 45 days to file a stipulation or notice of dismissal, settlement agreement or “any other pertinent document” necessary to conclude the...
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