Bristow Investors Reach $6.25M Deal In Suit Over SEC Filings
Law360 (January 28, 2021, 6:58 PM EST) -- Investors of industrial aviation company Bristow Group Inc. asked a Texas federal judge Thursday to approve a $6.25 million class action settlement to end claims that executives hid deficiencies in the company's financial reporting procedures, ultimately leading to its bankruptcy.
Lead plaintiffs Andrew Abernathey, Jay Abernathey, Guy Abernathey and Meridian Investments I LLC asked for preliminary approval of the deal for a settlement class of anyone who bought shares of Bristow stock between Feb. 8, 2018, and Feb. 12, 2019.
The nearly $6.3 million cash deal is "an excellent result" and represents 17% of maximum potential damages — estimated by plaintiffs...
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