GreenSky Investors Strike $27.5M Deal Over IPO Disclosures

Law360 (May 25, 2021, 8:12 PM EDT) -- GreenSky investors have reached a $27.5 million settlement deal over allegations the lending technology company made misleading statements ahead of its initial public offering, according to documents filed in New York federal court.

A group of investors on Monday asked the court for preliminary approval of the deal, saying the two-year litigation had been hard-fought and the settlement amount was fair. The investors are led by Northeast Carpenters Annuity Fund, El Paso Firemen & Policemen's Pension Fund, and the Employees' Retirement System of the City of Baton Rouge and Parish of East Baton Rouge.

"The settlement represents a substantial portion of...

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