Judge OKs $95M VeriFone Stock Inflation Class Settlement

Law360, San Francisco (October 2, 2013, 4:27 PM EDT) -- A California federal judge on Wednesday said he's ready to give preliminary approval to VeriFone Holdings Inc.'s $95 million bid to exit an investor class action accusing the electronic-transactions firm of causing its stock to tank $1.79 billion by revealing income overstatements.

U.S. District Court Judge Edward Chen asked the parties to finalize details regarding notice and instructions for investors who want to opt out, but said he would sign an order next week allowing the settlement to proceed. He called attention to the fact that...
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