Internap To Pay $9.5M To Settle Shareholder Suit

Law360, Los Angeles (August 6, 2013, 8:39 PM EDT) -- Internap Network Services Corp. has agreed to pay $9.5 million to resolve a shareholder class action alleging the company issued multiple false and misleading statements regarding its 2007 acquisition of VitalStream Holdings Inc., according to a Tuesday court filing

The plaintiffs on Tuesday asked U.S. District Judge J. Owen Forrester to grant its unopposed motion for preliminary approval of the settlement, which would bring to an end nearly five years of litigation. The $9.5 million figure represents about 11 percent of the $83 million the shareholders estimate they lost...
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