Hansen Defendants To Pay $8.5M To Settle Investor Suit

Law360, New York (July 26, 2013, 6:19 PM EDT) -- A California federal judge on Thursday granted preliminary approval to an $8.5 million settlement in a putative shareholder class action alleging medical robotics maker Hansen Medical Inc. artificially inflated its revenues.

Under the proposed settlement, Hansen and a group of its current and former directors and officers will pay the shareholders $8.5 million -- to be doled out in two equal cash and equity components -- to settle allegations that the company violated federal securities laws by issuing deceptive information regarding its financial standing to shareholders and falsely inflating its revenue. Hansen admitted to...
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