Freshpet Strikes $10.1M Deal In Securities Class Action
Law360 (October 3, 2019, 7:46 PM EDT) -- Freshpet Inc. has reached a $10.1 million settlement over class claims the premium pet food company misled investors about its anticipated growth and concealed manufacturing woes, as the pension fund leading the suit asked a New Jersey federal court Thursday to sign off on the deal.
Lead plaintiff Alaska Electrical Pension Fund moved for preliminary approval of the settlement in a proposed securities class action against Freshpet and current and former company executives, telling the court that moving forward with the litigation "poses substantial risks that make any recovery uncertain."
Without a settlement, "there is a very real risk that the...
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