Comcast Settles Retirement Fund Action For $5M

Law360, New York (February 4, 2011, 4:51 PM EST) -- A federal judge has approved a $5 million settlement between Comcast Corp. and a class of employees who said company executives conned them into overinvesting in Comcast stock that was sure to decline.

About $1.8 million of that settlement fund will go to attorneys’ fees and costs, according to the final order filed Jan. 28 by Judge Harvey Bartle of the U.S. District Court for the Eastern District of Pennsylvania.

Comcast executives’ misleadingly rosy assessments of the company’s prospects caused the company’s stock to artificially rise...
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