Judge OKs Class in $26.6M NovaGold Securities Deal

Law360, New York (May 25, 2010, 12:49 PM EDT) -- A federal judge has signed off on class parameters for a $26.6 million settlement of a lawsuit against NovaGold Resources Inc. and its officers over a failed mining project.

Judge Susan L. Cote of the U.S. District Court for the Southern District of New York on Monday agreed to allow all American and Canadian residents who purchased NovaGold stock between Oct. 25, 2005, and Jan. 16, 2008, on the American Stock Exchange or the Toronto Stock Exchange to participate in the settlement.

The judge gave preliminary...
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