Smart Tech Gets Nod On $15M Deal With Investors Over IPO

Law360, Chicago (May 24, 2013, 2:33 PM EDT) -- A New York federal judge on Thursday gave preliminary approval to Smart Technologies Inc.’s $15.2 million class action settlement with shareholders over allegations that it misled investors ahead of a $660 million initial public offering.

The Calgary, Canada-based educational technology company will return to court seeking final approval of the deal Sept. 17, according to an order signed by U.S. District Judge Katherine B. Forrest. The settlement also needs approval from the Ontario Superior Court of Justice, which is overseeing a parallel action brought by Canadian investors....
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