Madshrimps Forum Madness

Madshrimps Forum Madness (http://www.madshrimps.be/vbulletin/)
-   WebNews (http://www.madshrimps.be/vbulletin/f22/)
-   -   OCZ Announces Settlement of Consolidated Shareholder Class Action Litigation (http://www.madshrimps.be/vbulletin/f22/ocz-announces-settlement-consolidated-shareholder-class-action-litigation-113164/)

Stefan Mileschin 3rd October 2013 13:21

OCZ Announces Settlement of Consolidated Shareholder Class Action Litigation
 
OCZ Technology Group, Inc., a leading provider of high-performance solid-state drives (SSDs) and power management solutions for computing devices and systems, today announced that it has reached a settlement in principle in the federal shareholder class action litigation filed in connection with the Company's financial restatement.

The settlement is subject to negotiation of final documentation and court approval. Subject to Court approval, the settlement of $7.5 million will be funded by the Company's D&O liability insurance. The settlement may include an additional payment of the lesser of $6M or 4% of the net proceeds in the event that the company or any portion of it is sold within six months of the executed settlement agreement. This settlement would resolve the consolidated shareholder class actions pending in connection with the restatement.

http://www.techpowerup.com/191872/oc...itigation.html


All times are GMT +1. The time now is 09:52.

Powered by vBulletin® - Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO