Bankrupt CDC Corp. Settles $63M IPO Row With Evolution

Law360, New York (April 12, 2012, 6:35 PM EDT) -- A bankruptcy judge on Wednesday approved a $63.3 million settlement between enterprise software company CDC Corp. and hedge fund Evolution Capital Management LLC, putting to bed a dispute over a failed initial public offering that forced the software company to seek Chapter 11 protection.

China-based CDC filed for bankruptcy in October after a New York trial judge ruled in June that it had to pay $65.4 million to Evolution, which had accused CDC of defaulting on convertible bonds that Evolution bought ahead of the software company's...
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