Performance Sports Investors Score $13M Deal In Fraud Suit

By Rachel Scharf (December 2, 2021, 2:47 PM EST) -- Two former Performance Sports Group executives will pay $13 million through company insurance to end a proposed class action alleging they lied to shareholders about the now-bankrupt athletic gear manufacturer's sales tactics, according to a proposed deal filed Wednesday.

Two former executives of the now-bankrupt athletic gear manufacturer Performance Sports Group will pay $13 million to end a proposed class action alleging they lied to shareholders about the company's sales tactics, according to a proposed deal. (AP Photo/Richard Drew) The all-cash deal requires former PSG CEO Kevin Davis and ex-CFO Amir Rosenthal, through the company's directors & officers insurance policy, to compensate potentially thousands of class members...

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