Headphone Maker Silences Investors' Embezzlement Suit

Law360, New York (March 7, 2012, 5:18 PM EST) -- Headphone manufacturer Koss Corp. reached a class action settlement Tuesday with shareholders who claim the company and its CEO should have picked up on a former employee's $34 million embezzlement.

The $1 million settlement willl help recoup investors' losses and then some: the million-dollar mark is more than twice the maximum provable damages and is meant to offer shareholders generous compensation for any trouble they incurred as a result of the scandal, according to Tuesday's motion.

The case, filed by investor David Puskala on behalf of...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Puskala v. Koss Corporation et al


Case Number

2:10-cv-00041

Court

Wisconsin Eastern

Nature of Suit

Securities/Commodities

Judge

Lynn Adelman

Date Filed

January 14, 2010

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.