Judge OKs $5M Settlement In Exodus Class Action

Law360, New York (July 16, 2008, 12:00 AM EDT) -- Seven years after it was initially filed, and more than a year after a court of appeals stepped into the fray, a securities class action against former Web hosting firm Exodus Communications Inc. has been settled.

Preliminary approval for the $5 million settlement was granted by Judge Maxine Chesney of the U.S. District Court for the Northern District of California in an order Wednesday.

The parties drafted a stipulation of settlement on April 9, just days before the U.S. Court of Appeals for the Ninth Circuit...
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