Judge Approves $3.2B Settlement In Tyco Case

Law360 (December 19, 2007, 12:00 AM EST) -- A judge approved a $3.2 billion settlement in the Tyco International Inc. securities litigation on Wednesday, designating more than $460 million in legal fees for the plaintiffs' attorneys.

Judge Paul Barbadoro of the U.S. District Court for the District of New Hampshire finalized the agreement and payment.

Tyco's payment will be the largest cash payment ever made by a corporate defendant in the history of securities litigation, the judge said. In total, the settlement agreement is the third-largest class action recovery ever, behind the deals in...
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