SourceCorp Unit Head, Shareholders Settle For $3M

Law360, New York (February 2, 2009, 12:00 AM EST) -- The plaintiffs in a class action brought by shareholders of SourceCorp Inc. over losses stemming from an alleged illegal accounting scheme have asked a judge to grant preliminary approval of a $3 million settlement with the only remaining defendant.

In a motion filed Friday in the U.S. District Court for the Northern District of Texas, counsel for the plaintiffs asked the court to give the green light for the settlement between the class and the only remaining defendant, Bill D. Deaton, the founder and president of...
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