Pimco Settles Short-Seller Action For $92M

Law360, New York (January 3, 2011, 5:09 PM EST) -- Pacific Investment Management Co. LLC has agreed to put up $92 million to resolve a class action accusing the global investment firm of monopolizing a futures market.

Newport Beach, Calif.-based Pimco said on Dec. 30 the proposed settlement, which still needs to gain approval by the U.S. District Court for the Northern District of Illinois, will pay class members as well as cover plaintiffs’ legal fees and expenses. Pimco added that the company would foot the settlement costs, not investors in its mutual funds or any...
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Case Information

Case Title

Hershey, et al, v. Pacific Investment Management Company LLC


Case Number

1:05-cv-04681

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Judge

Honorable Ronald A. Guzman

Date Filed

August 16, 2005

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