Fuwei Ends Investor Suit Over Chinese Assets For $2M

Law360, New York (September 20, 2010, 2:15 PM EDT) -- Fuwei Films Co. has agreed to pay more than $2.15 million to settle a class action that claimed the plastic film manufacturer failed to alert investors that it was being investigated by the Chinese government for allegedly acquiring its production lines through illegal transactions.

Under a settlement agreement submitted to the U.S. District Court Southern District of New York on Friday, investors who bought Fuwei stock between Dec. 19, 2006, and Nov. 12, 2007, would receive a total of $2.15 million, plus interest, or roughly 50...
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