Lead IRC Fraud Plaintiffs Ask For $90M Settlement OK

Law360, New York (September 23, 2009, 12:37 PM EDT) -- The lead plaintiffs in an investor class action alleging International Rectifier Corp. and several of its officers and directors reported inflated financial results over five years have asked a court to approve a previously announced $90 million settlement with the electronic component manufacturer.

The General Retirement System of the City of Detroit and the Massachusetts Laborers' Pension Fund filed their unopposed motion for preliminary approval in the U.S. District Court for the Central District of California on Tuesday.

“This is an outstanding settlement that was driven...
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