Fushi Copperweld To Pay $3M To End Misstated Earnings Suit

Law360, Chicago (September 4, 2013, 1:52 PM EDT) -- Chinese bimetallic products maker  Fushi Copperweld Inc. has agreed to a $3.25 million settlement in a class action that accused it of inflating its stock price by misstating earnings, according to court documents filed Tuesday in Tennessee federal court.

To end the suit, which was filed by a Tennessee firefighter’s pension fund, the Beijing-based company will pay cash plus interest to a class of all investors that purchased stock in the company between August 2007 and May 2011, the settlement papers said.

“Given the complexities of...
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