Textron Agrees To Settle Class Action For $7M

Law360, New York (March 6, 2006, 12:00 AM EST) -- After nearly three and a half years of drawn-out litigation, Textron Inc. has agreed to make a $7 million settlement over charges that executives failed to disclose problems at the company’s Bell Helicopter Textron unit.

The settlement was announced on Monday in a statement issued by plaintiff’s co-lead counsel, Kirby McInerney & Squire LLP. The law firm recommended the suit be dismissed with prejudice.

The proposed settlement awaits approval by Judge William E. Smith in a Rhode Island district court hearing set for May 9....
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