Judge OKs Loral Space Class Action Deal

Law360, New York (October 9, 2008, 12:00 AM EDT) -- A federal judge in Manhattan has given the green light to a proposed settlement deal in a shareholder class action that was filed against two former executives with Loral Space & Communications Ltd. after the company collapsed into bankruptcy in 2003.

Judge John Sprizzo of the U.S. District Court for the Southern District of New York signed off on an order on Wednesday conferring preliminary approval on a settlement deal in the suit case against Bernard L. Schwartz and Richard J. Townsend.

Schwartz was Loral's Chief...
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