Lexmark Settles Investor Suit Over Oversupply For $12M

Law360 (May 11, 2020, 4:28 PM EDT) -- Lexmark International Inc. has agreed to pay a proposed class of investors $12 million to end shareholders' claims in New York federal court that the company temporarily inflated its value by oversupplying some of its markets.

In a Friday motion for preliminary approval, lead plaintiff District No. 9, I.A. of M. & A.W. Pension Trust told U.S. District Judge William H. Pauley that the proposed settlement results from "two years of litigation and extensive, arm's-length negotiations" reached with the help of a mediator.

"The settlement is a very good result in light of the costs and risks of further litigation," the...

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