Cbeyond Investors Seek OK On $2.3M Settlement

Law360, New York (September 8, 2009, 3:02 PM EDT) -- Cbeyond Inc. and a class of investors claiming the telecommunications company lied about customer churn rates have asked a federal judge to give preliminary approval to a $2.3 million settlement.

In an unopposed motion filed Friday in the U.S. District Court for the Northern District of Georgia, the lead plaintiffs — the Genesee County Employees' Retirement System of Michigan and the Essex Regional Retirement Board of Massachusetts — say that the proposed settlement represents a recovery of almost 5 percent on the investment that the plaintiffs...
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