June 5, 2003

Rite-Aid Case Breaks Into The Top 5

As discussed in The 10b-5 Daily here, KPMG has settled its portion of the Rite-Aid Corp. securities class action. The Legal Intelligencer has an article summarizing the case's history and the final numbers on the settlements. (Thanks to the Securities Law Beacon for the link.)

Quote of note: "With settlements totaling more than $334 million and attorney fees of about $83 million, the class action shareholders' suit filed in the wake of an accounting scandal at Rite Aid Corp. now ranks among the nation's five largest shareholder settlements ever."

Posted by Lyle Roberts at June 5, 2003 3:29 PM | TrackBack
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