Cooper Settles With WG Trading Receiver For $12M

Law360, New York (December 13, 2011, 6:12 PM EST) -- The receiver for WG Trading Co. on Tuesday asked a New York federal court to approve a nearly $12 million settlement with a Cooper Industries Inc. trust facing clawback claims over an alleged Ponzi scheme orchestrated by WG executives.

The settlement with Cooper Industries Inc., Master Trust for Defined Benefits Plans provides substantial benefits to receiver Robb Evans & Associates LLC without the risk or expense of litigation, according to a memorandum supporting the approval request Tuesday.

Robb Evans sued Cooper and others over their investment...
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