Panera Bread Settles Stock Fraud Class Action Lawsuit.
A class action settlement has been reached with Panera Bread Co. (“Panera Bread”) to settle a class action lawsuit filed against Panera Bread in the United States District Court in St. Louis, Missouri by shareholders who bought Panera common stock between Nov. 1, 2005, and July 26, 2007 alleging, among other things, that Panera made false and misleading statements about the success of its Crispani pizza, according to a Panera Bread securities fraud class action lawsuit settlement news report.
The Panera Bread securities fraud class action lawsuit settlement reportedly provides that Panera Bread has agreed to pay $5.75 million that is reportedly being covered by Panera’s insurers.
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