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...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Robert Scott v. ZST Digital Networks, Inc. et al


Case Number

2:11-cv-03531

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Gary A. Feess

Date Filed

April 25, 2011

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.