Carter's Swings $20M Deal To Resolve Stock Drop Suit

Law360, New York (April 23, 2012, 11:25 PM EDT) -- Carter's Inc. agreed Monday in Georgia federal court to pay $20 million to settle a securities fraud class action alleging the children's apparel manufacturer artificially inflated its stock price.

Lead plaintiff Plymouth County Retirement System asked the court for final approval of the settlement, which ends the case against Carter's and several of its officers, including ex-CEO Frederick Rowan II.

Plymouth will continue litigating similar fraud allegations against co-defendant PricewaterhouseCoopers LLP, which is not a party to the settlement.

“The settlement provides an immediate and substantial...
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