Class Seeks OK For $10M Deal With PNC Unit

Law360, New York (March 3, 2009, 12:00 AM EST) -- The lead plaintiffs in a consolidated securities class action that accused PNC Financial Services Group Inc. unit Sterling Financial Corp. of artificial stock inflation have asked a federal court to preliminarily approve a $10.25 million settlement on behalf of thousands of purchasers of Sterling stock.

New Mexico Public Employees Retirement Association and State of New Mexico Educational Retirement Board lodged a motion for preliminary settlement approval on Monday in the U.S. District Court for the Eastern District of Pennsylvania, where the multidistrict litigation against Sterling and...
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