Tyco Shareholders, Merrill Lynch Settle On $4.9M

Law360, New York (April 17, 2008, 12:00 AM EDT) -- A federal judge has signed off on a $4.9 million settlement of a lawsuit brought by conglomerate Tyco International Ltd.'s shareholders who allege they were led astray in 2002 by fraudulent research reports written by a star Merrill Lynch & Co. analyst.

U.S. District Judge John F. Keenan of the Southern District of New York granted final approval of the settlement Wednesday and granted class certification to the settling plaintiffs.

“This closes the book on the final chapter of ancient litigation. We are pleased to put...
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