Dycom Investors' $9.5M Stock-Drop Deal Gets Initial Approval

Law360 (July 9, 2020, 6:03 PM EDT) -- A Florida federal judge on Thursday preliminarily approved a $9.5 million deal between telecommunications infrastructure company Dycom Industries and investors accusing it of overstating projected growth, leading to a drop in its stock price.

U.S. District Judge Raag Singhal granted the request by lead plaintiff Boston Retirement System to allow the cash deal, which includes up to $3.1 million in attorney fees and expenses to lead counsel Levi & Korsinsky LLP and Thornton Law Firm LLP in the proposed class action.

Judge Singhal approved the settlement class as anyone who bought Dycom stock between Nov. 20, 2017, and Aug. 10, 2018....

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