Phil Law Weblog

Aerosonic Corp. said will pay $800,000 of the $5.4-million settlement, with the rest paid by its insurance carrier and former auditor to settle class-action lawsuits filed after company officials were accused of inflating financial results to boost its stock price

The stock price of the Clearwater aircraft instrument maker plunged after the company restated earnings in March 2003.

Link

Filed under Class Action, General Law, Settlements

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