United Rentals, Investors Settle Stock Inflation Suit

Law360 (April 20, 2009, 12:00 AM EDT) -- United Rentals Inc. shareholders have agreed to a deal in a securities class action accusing the company and its executives of artificially inflating stock prices, which plummeted after the U.S. Securities and Exchange Commission revealed it was investigating the company’s accounting methods.

Shareholder plaintiffs filed the motion for settlement Friday in the U.S. District Court for the District of Connecticut, with final approval of the settlement and allocation of funds set to take place at a hearing on May 22.

Lead plaintiff Barry Schimmel filed the...
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