GreenSky's $27.5M Investor Suit Settlement Gets Initial OK

Law360 (June 14, 2021, 5:09 PM EDT) -- A New York federal judge has preliminarily approved a $27.5 million proposed settlement of GreenSky investors' allegations that the lending technology company made misleading statements ahead of its initial public offering, after parties to the two-year litigation reached a deal last month.

The deal was reached in May between GreenSky and a group of investors 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. U.S. District Judge Alvin K. Hellerstein said in Friday's order that the proposed deal was fair....

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