Tellabs Settles Investors' Suit Over $891M Acquisition

Law360, New York (March 24, 2014, 5:03 PM EDT) -- Telecom networking company Tellabs Inc. has agreed to settle a putative class action alleging Tellabs' top brass misled investors about Marlin Equity Partners LLC's $891 million acquisition of the company, attorneys told an Illinois federal court Friday.

Attorneys for lead plaintiff Kerry Lambert and the proposed class sought preliminary court approval of a settlement they say they reached in November with Tellabs, its board of directors, Marlin Equity and others to close out the putative class action alleging the defendants breached their fiduciary duties to Tellabs...
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