Judge Blocks Investors' $39M Spectrum Deal Amid Objection

Law360 (February 8, 2021, 8:43 PM EST) -- A federal judge in Wisconsin put a hold on a $39 million settlement of a shareholder lawsuit against household products giant Spectrum Brands Holdings Inc., finding that the suit "took a wrong turn" when a revised version of the action added a third group of proposed class members without notifying them.

U.S. District Judge James D. Peterson told the investors that they have two weeks to decide whether they want to publish a new notice of the suit that includes the missing proposed shareholders or whether they want to remove claims from their suit related to the class members who didn't...

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