Judge Won't Clog Approval Of $10M Crocs Shareholder Deal
By Max Stendahl
Law360, New York (August 28, 2013, 6:48 PM ET) -- A Colorado federal judge on Wednesday approved a $10 million settlement in a shareholder class action alleging Crocs Inc. concealed inventory issues before a large write-down, overruling claims that the lead plaintiff lacked standing to sue because it purchased derivatives outside the U.S.
U.S. District Judge Philip A. Brimmer granted preliminary approval to the settlement despite objections by National Roofing Industry Pension Plan, a plaintiff in the case. National Roofing had argued that lead plaintiffs Antonio Pedrera Sanchez and Fernando Pedrera Sanchez, referred to as the...