Ener1 To Pay $4M To Settle Suit Over Failed Car Investment

Law360, New York (February 11, 2013, 4:54 PM EST) -- A New York federal judge on Friday signed off on a $4.2 million settlement between Ener1 Inc. and a consolidated class of shareholders suing the lithium-ion battery manufacturer over its failed investments in Norwegian electric carmaker Think Global AS. 

The settlement order, signed by U.S. District Judge Paul Crotty, certifies a class of shareholders who had alleged Ener1 misled investors about the deleterious financial effects of its investment in Think Global. 

"The court hereby preliminarily approves the settlement, as embodied in the stipulation, as being fair,...
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