Cisco Investors Drop Stock Inflation Class Action

Law360, New York (April 29, 2013, 3:30 PM EDT) -- Cisco Systems Inc. shareholders on Friday agreed to drop a consolidated class action filed in California federal court accusing company brass of artificially boosting stock prices while Cisco's CEO used insider information to sell $134 million worth of company shares.

U.S. District Judge Saundra Brown Armstrong signed off on the stipulation and order dismissing the case with prejudice, with both sides agreeing to bear their own costs. The dismissal comes after Judge Armstrong tossed the investors' amended complaint in March, but gave them leave to bring...
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