GT Solar Reaches $10.5M Settlement Of IPO Suits

Law360, New York (March 7, 2011, 3:35 PM EST) -- GT Solar International Inc. said Monday it would pay $10.5 million to settle a pair of putative securities class actions in New Hampshire over the company's initial public offering and its stock's fall the very next day after it lost its biggest customer.

Under an agreement in principle, GT Solar will contribute $1 million to a settlement fund, and its liability insurers will contribute the remaining $9.5 million, resolving a federal consolidated case in the U.S. District Court for the District of New Hampshire and another...
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