Gerova Financial Settles MDL Over Stillwater Deal

Law360, New York (February 6, 2014, 3:10 PM EST) -- A class of investors who claim that Stillwater Capital Partners and Gerova Financial Group Ltd. swindled them out of $100 million agreed to settle with the defendants, according to an order signed by a New York federal judge on Wednesday.

In 2009, the struggling Stillwater, unable to pay back its investors, agreed to be acquired by Gerova in a stock swap, but Gerova's demise led to said investors losing money on its unregistered shares. The settlement will distribute the remainder of the defendants' insurance policies, return...
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