$31.6M Deal In Diebold Investor Suit OK'd By Judge

Law360, Los Angeles (November 14, 2013, 9:30 PM EST) -- An Ohio federal judge on Thursday preliminarily approved a $31.6 million class action settlement and granted conditional class certification to plaintiffs who sued the ATM Security company Diebold Inc. for allegedly misstating its earnings by as much as $127 million.

Plaintiffs, the Building Trades Union Pension Trust Fund and the Alaska Electrical Pension Fund, sought approval of the settlement on Nov. 8, outlining a $31.6 million cash payment achieved through extensive arm’s-length negotiations between the parties. The settlement comes one year after U.S. District Judge Benita...
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