Law360, New York (August 08, 2011, 1:09 PM ET) -- Prudential Financial Inc. investors won a New Jersey federal judge's preliminary approval Friday of a $16.5 million settlement in their class action accusing the insurance giant and several underwriters of disclosure problems regarding a $920 million offering of Prudential notes.
U.S. District Judge Jose L. Linares also preliminarily granted certification of a class consisting of holders of 9 percent junior subordinated notes of Prudential from June 2008 through March 2009. Paul J. Perry, trustee of the Paul J. Perry Revocable Trust, was appointed as lead plaintiff....
Prudential To Pay $16.5M To Settle Shareholder Suit
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