Textron Deal To Resolve Workers' Stock Suit Gets Initial OK

Law360, Los Angeles (August 21, 2013, 7:48 PM EDT) -- Textron Inc. will pay up to $10,000 to each member of a class of employees that invested in the Cessna maker’s stock just before it plunged, according to a preliminary settlement approved Wednesday by a Rhode Island federal judge.

U.S. District Judge Mary M. Lisi granted preliminary approval of the settlement, which releases Textron of admitting any wrongdoing, certifies the class and disallows any member from opting out of the class, according to the deal.

The settlement arranged for $10,000 for each class member to be...
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