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KBR To Shell Out $10.5M In Deal With Investors Over Losses

Law360, San Francisco (April 10, 2017, 10:34 PM EDT) -- A Texas federal judge on Monday granted preliminary approval to a $10.5 million settlement between KBR Inc. and a certified class of shareholders accusing the engineering and construction services company of committing securities fraud by overstating its earnings.

The settlement, which cleared its first hurdle with preliminary approval from U.S. District Judge Lee H. Rosenthal, would dismiss all claims in the class action alleging KBR and its officers violated securities laws by not immediately disclosing $156 million in losses. It names the Arkansas Public Employees Retirement...
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