Assisted Living Concepts Inks $12M Shareholder Settlement

Law360, New York (September 9, 2013, 1:04 PM EDT) -- Senior housing company Assisted Living Concepts Inc. has agreed to pay $12 million to settle a securities class action claiming it mislead investors about its compliance with the terms of an eight-community acquisition, amongst other issues, according to documents filed Friday in Wisconsin federal court.

The investors who filed the suit urged the court to preliminary approve the settlement that also includes the company's former CEO Laurie A. Bebo, calling it a "fair, reasonable and adequate" result for the class that eliminates risks inherent in ongoing...
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