Casino Game Maker Reaches $4M Deal In Stock Class Action

Law360, New York (January 6, 2014, 4:24 PM EST) -- WMS Industries Inc. will settle for $3.7 million with a proposed class of its investors who had sued the casino game maker for allegedly lying about its financial status to inflate stock prices, according to court documents filed Friday in Illinois federal court.

Lodged in May 2011, the suit accuses the Illinois-based slot machine and video gambling game maker of misrepresenting the anticipated performance of a new gaming system that hit the market despite a continued slowdown across the industry in the wake of the financial...
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