Siemens Settles Class Action Over HearUSA Stock Price

Law360, New York (September 26, 2013, 7:54 PM EDT) -- Siemens Hearing Instruments Inc. on Thursday settled a putative class action filed by former HearUSA stockholders who accused Siemens of artificially deflating HearUSA’s stock price to acquire the bankrupt company on the cheap, according to an order filed in New Jersey federal court.

MTB Investment Partners LP, a New York-based investment fund, has struck a tentative agreement with Siemens Hearing over its claim that Siemens sunk HearUSA’s stock price by claiming in public filings that it had no intent to acquire the company, according to an...
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