$586M Deal Reached In IPO Securities Case

Law360, New York (April 6, 2009, 12:00 AM EDT) -- After nearly a decade of legal wrangling, a $586 million settlement has been reached in the initial public offering securities litigation, in which investors accused banks of rigging IPOs during the 1990s tech bubble.

The parties in the case informed Judge Shira Scheindlin of the U.S. District Court for the Southern District of New York on April 1 that they had reached a settlement in the dispute, which was brought against hundreds of companies and dozens of major investment banks including Credit Suisse Group AG and...
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