Judge OKs $2M Deal In Stolt-Nielsen Securities Suit

Law360, New York (September 13, 2010, 1:24 PM EDT) -- A federal judge has preliminarily approved a $2 million settlement resolving a securities class action accusing Stolt-Nielsen SA of making false statements that hid an illegal market allocation scheme at the shipping company.

Judge Dominic J. Squatrito of the U.S. District Court for the District of Connecticut signed off on the proposed settlement Friday, more than a year after the parties first asked the judge for approval in July 2009.

The deal requires Stolt-Nielsen to pay $2 million, which the plaintiffs estimate equals about 12 cents...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.