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,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In re Enher1, Inc. Securities Litigation


Case Number

1:11-cv-05794

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul A. Crotty

Date Filed

August 18, 2011

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.