Check Point Settles With Stockholders For $13M

Law360, New York (December 21, 2006, 12:00 AM EST) -- Check Point Software Technologies Ltd. said Wednesday that it settled class action litigation brought by stockholders for $13 million, bringing an end to allegations it had not been forthright about its financial condition.

The Internet-security company said that settlement will be paid by its insurance carrier, and should have no financial impact on the company. A judge still must approve the agreement.

Check Point said that the plaintiffs dismissed the company’s officers and directors that had been named in the suit.

Check Point denies that any...
To view the full article, register now.