ZST Ends China Revenue Reporting Class Suit In $1.7M Deal

Law360, Los Angeles (August 1, 2013, 2:21 PM EDT) -- A California federal judge gave final approval Thursday to ZST Digital Networks Inc.'s $1.7 million settlement of a shareholder class action accusing the networking equipment maker of committing securities fraud by reporting different financial results in the United States and China, finding the settlement fair.

At a hearing, U.S. District Judge Gary Allen Feess told the parties he will sign off on the draft order approving the settlement and reduced the incentive award of lead plaintiff J. Malcolm Gray by half, to $1,500.

“I just don't see...
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