$97.5M JC Penney Investor Settlement Gets Initial OK

Law360, New York (July 24, 2017, 7:52 PM EDT) -- A Texas federal judge ruled Monday to grant preliminary approval to a deal for J.C. Penney to pay $97.5 million and make other concessions to a class of investors who’d accused the retailer of lying about its financial health, following the recommendation of a magistrate judge.

U.S. District Judge Robert W. Schroeder III granted preliminary approval to the proposed settlement of a suit from investors who sued J.C. Penney in 2013, claiming that their decision to purchase stock within the class window was the result of...
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