August 26, 2004

Halliburton Court To Rule On Settlement

The 10b-5 Daily has been actively following the unusual dispute among the lead plaintiffs in the Halliburton securities class action over a proposed $6 million settlement. (The most recent post can be found here.) According to an Associated Press story today, the new judge presiding over the case will decide whether to approve the settlement next week.

Quote of note: "[Judge Barbara Lynn of the N.D. of Tex.] pointed out that the $6 million settlement, cut in half by attorney and administrative fees, would result in low payouts to thousands of plaintiffs in the class-action lawsuit. She said they wouldn't lose much if she rejected the settlement, allowed the case to move forward and it eventually failed."

Posted by Lyle Roberts at August 26, 2004 9:09 PM | TrackBack
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