Judge OKs $4M Deal In Jos. A. Bank Securities Action

Law360, New York (July 21, 2010, 5:42 PM EDT) -- A federal judge has approved a $4 million settlement in a class action brought by shareholders of Jos. A. Bank Clothiers Inc. that claimed the company artificially inflated stock prices by releasing misleading information about inventories and profitability.

Judge William Nickerson of the U.S. District Court for the District of Maryland on Tuesday gave his blessing to the settlement, dismissing with prejudice a case brought by lead plaintiff Roy Lefkoe along with the Haverhill Retirement System and the Massachusetts Laborers' Annuity Fund.

Jos. A. Bank had...
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