Spectrum License Holder To Pay $9.4M To End Investor Suit

Law360, New York (October 12, 2017, 1:32 PM EDT) -- Straight Path Communications has agreed to pay $9.45 million to settle a lawsuit with shareholders who accused the telecommunications asset holder of improperly acquiring and overstating the value of spectrum licenses, which caused the company’s stock price to drop when brought to light.

Straight Path and shareholder class leader Charles Frischer on Tuesday asked a New Jersey federal judge for preliminary approval of the deal, which was negotiated back in March after the company settled for $100 million a Federal Communications Commission investigation over allegations that...
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