Fremont Settles Securities Class Action

Law360, New York (October 4, 2010, 3:02 PM EDT) -- A class of retirement and stock ownership plan participants at Fremont General Corp. has reached an agreement to resolve its stock-drop suit against the now-bankrupt subprime lender.

Judge Jacqueline H. Nguyen of the U.S. District Court for the Central District of California issued an order Friday acknowledging that the parties had settled their dispute.

“The court has been advised by counsel for the plaintiff that this action has been settled,” the order said.

The parties have 60 days to lodge a notice of dismissal, and the...
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