Appliance Maker's $2.1M Investor Settlement Gets Nod

Law360, Los Angeles (March 8, 2013, 4:50 PM EST) -- A California federal judge Friday tentatively gave preliminary approval to a $2.1 million settlement of a putative securities class action alleging China-based appliance company Deer Consumer Products Inc. misrepresented its financial condition in order to obtain financing from U.S. capital markets.

At a Friday hearing, U.S. District Judge Dolly M. Gee indicated she would finalize her ruling in two weeks' time after Deer's lawyer William H. Forman of Scheper Kim & Harris LLP requested a delay before giving formal preliminary approval of the settlement so his...
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