Sunglass Maker To Settle Suit With $1.4M Check

Law360, New York (January 16, 2007, 12:00 AM EST) -- A judge will consider giving preliminary approval this week to a $1.4 million settlement in a case brought against Orange 21 by its shareholders over company disclosures.

The company said that the money would be paid to the class from Orange 21’s directors’ and officers’ insurance. The company will pay nothing, Orange 21 said Tuesday.

The settlement agreement was filed last month and scheduled for preliminary approval on Jan. 19. The complaint, which was originally filed in March 2005 in the U.S. District Court for the...
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