LAWSUITS NEWS & LEGAL INFORMATION
PRIM to Receive $11 Million in Tyco Settlement
The Pension Reserves Investment Management (PRIM) Trust, the state pension fund of Massachusetts, has been awarded $11 million as payment from a 2007 lawsuit against Tyco International Ltd.
The suit alleged that Tyco inflated its profit by $5.8 billion between 1999 and 2002. State Treasurer Tim Cahill said the PRIM) Trust opted out of a class-action lawsuit because it would only have resulted in a settlement ranging between $2 million and $4 million dollars.
Published on Jan-23-09
The suit alleged that Tyco inflated its profit by $5.8 billion between 1999 and 2002. State Treasurer Tim Cahill said the PRIM) Trust opted out of a class-action lawsuit because it would only have resulted in a settlement ranging between $2 million and $4 million dollars.
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