United Rental Settles Class Action Suits For $27.5M

Law360, New York (March 10, 2008, 12:00 AM EDT) -- Equipment rental company United Rentals Inc. said Monday that it had tentatively agreed to pay $27.5 million to settle three proposed class actions alleging it misled the company about its finances.

The suits were filed in the U.S. District Court for the District of Connecticut in 2004. They are connected to United Rentals' announcement in August 2004 that it was the target of an inquiry by the U.S. Securities and Exchange Commission.

United Rentals said Monday that the contemplated settlement is contingent on several conditions, including...
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