Judge Holds Off On Approving DHB Settlement

Law360, New York (October 9, 2007, 12:00 AM EDT) -- Final approval of a deal in which body-armor maker DHB Industries Inc. would shell out $35 million and 3.2 million shares of company stock to settle a class action and shareholder derivative suit was put on hold Friday pursuant to a government request.

At a fairness hearing, Judge Joanna Seybert of the U.S. District Court for the Eastern District of New York granted the Department of Justice's motion for an extension to evaluate the settlement. The DOJ now has until Nov. 19 to decide whether it...
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