Curo Investors Ink $9M Deal On Canada Lending Class Action

Law360 (August 3, 2020, 3:48 PM EDT) -- Shareholders of online lender Curo asked a Kansas federal judge Friday to approve an almost $9 million cash settlement to end class action allegations that the company misled investors about its plans to phase out its lucrative payday loan program in Canada.

In its motion seeking approval, lead plaintiff Carpenters Pension Fund of Illinois said the settlement is "a great result" recommended by the mediator, retired U.S. District Court Judge Faith Hochberg.

The investors and Curo Group Holdings Corp. reached the proposed settlement after beginning mediation in May and is the result of "well-informed and extensive arm's-length negotiations" conducted by Judge Hochberg,...

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