Judge OKs $28.5M Deal To End Cnova Shareholder Action

Law360, New York (October 11, 2017, 10:38 PM EDT) -- A New York federal judge gave preliminary approval Wednesday to a $28.5 million deal settling claims by Cnova shareholders that company executives and directors tanked the e-commerce firm's value by hiding inventory issues and overstating net sales.

U.S. District Judge Laura Taylor Swain signed the proposed agreement, filed last month, which provides a payout to those who purchased ordinary shares of Cnova between Nov. 19, 2014, and Feb. 23, 2016. Class members will recover an estimated $1.13 per share, according to the agreement. Cnova admits no...
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Case Information

Case Title

IN RE CNOVA N.V. SECURITIES LITIGATION


Case Number

1:16-cv-00444

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Laura Taylor Swain

Date Filed

January 20, 2016

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