FECI Settles Shareholder Complaint

Law360, New York (July 13, 2007, 12:00 AM EDT) -- Florida East Coast Industries Inc. said Friday that it had settled a class action lawsuit its shareholders brought against it in opposition to a $3.5 billion merger with hedge fund manager Fortress Investment Group LLC.

Under the settlement, which is still subject to court approval, FECI will give its shareholders additional information in connection with the merger and will pay the legal fees and expenses of the plaintiff's counsel. In return, the shareholders agreed to dismiss the suit and withdraw all motions filed in connection therewith....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.