Corus Execs Reach $10M Deal With Investors

Law360, New York (June 2, 2011, 7:29 PM EDT) -- An Illinois federal judge on Thursday signed off on a $10 million settlement to resolve a shareholder class action accusing former directors of bankrupt real estate lender Corus Bankshares Inc. of misrepresenting its finances during the housing crisis.

U.S. District Judge Elaine E. Bucklo granted preliminary approval to the agreement and made way for the court to notify class members, who will then get a chance to object to the settlement before a hearing in September on whether the deal is fair.

Investors had voluntarily dismissed...
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