Huffy Ex-Execs Reach $8M Deal To End Securities Suit

Law360, New York (May 13, 2010, 5:30 PM EDT) -- Four former officers of bike maker Huffy Corp. have agreed to pay $8 million to resolve shareholder litigation accusing them of concealing the company's financial condition prior to its acquisition of sporting goods manufacturer Gen-X Sports Inc.

The lead plaintiffs asked the U.S. District Court for the Southern District of Ohio to preliminarily approve the settlement Wednesday, saying it was the result of hard-fought negotiations during two mediation sessions.

They also asked the court to certify the shareholder class, which includes all persons who purchased or...
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