TierOne Gets Go-Ahead For $3M Investor Settlement

Law360, New York (November 8, 2012, 7:58 PM EST) -- A Nebraska federal judge on Thursday signed off on a final settlement worth $3.1 million, ending a shareholder class action against now-defunct TierOne Corp. and its top brass over allegations that the bank had concealed the fact that delinquent loans left it undercapitalized.

U.S. District Judge Joseph F. Bataillon greenlighted the deal, which also provides for one-third of the settlement fund — about $1.03 million — to be paid out in attorneys’ fees to the Rosen Law Firm PA, the lead counsel in the action. The...
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