Law360 (April 4, 2019, 3:20 PM EDT) -- Investors in El Pollo Loco have reached a $20 million deal with the Tex-Mex chain to settle claims that its top executives misrepresented the source of decreasing sales and then traded their own shares ahead of a stock plunge.
The certified investor class told a California federal judge Wednesday that a fruitful discovery for its third amended complaint positioned the class to negotiate a settlement that recovers almost half of the damages it sought under a traditional damages theory.
“This is a very good result, especially when compared to the median ratio of settlement to investor losses of 2.6% for securities...
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