Maxwell To Pay $3.3M To Settle Suit Over Accounting Flubs
Law360, New York (October 17, 2014, 5:35 PM EDT) -- A pension fund that filed a consolidated shareholder suit against Maxwell Technologies Inc. asked a California federal judge on Friday to approve a $3.3 million settlement over alleged accounting deficiencies that led Maxwell to revise its earnings downward by about $13 million for almost two years.
After an unsuccessful bid by Maxwell to have the suit thrown out this summer, the company and lead plaintiff, the Employees' Pension Plan of the City of Clearwater, reached the $3.3 million agreement, and on Friday asked the court to approve the settlement, certify a settlement class and dismiss the case.
"[Maxwell and the pension...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!