Court Approves Leap Wireless Agreement To Settle Securities Fraud Class Action Lawsuit For $13.75 Million.
A class action settlement has been approved in a class action lawsuit pending against Leap Wireless (“Leap Wireless” or “Defendant”) in federal court in California, alleging, among other things, that Leap Wireless (symbol: LEAP) made false and misleading statements about its business prior to Leap Wireless’s announcement that it would need to restate its finances in 2007, according to a Leap Wireless securities class action lawsuit news report.
Under the terms of the Leap Wireless securities class action lawsuit settlement, Leap Wireless, through its insurance carrier, will reportedly pay $13.75 million and will adopt and implement and/or continue to implement various operational and corporate governance measures.
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