LAWSUITS NEWS & LEGAL INFORMATION
Cbeyond Reaches Prelminary Settlement of $2.3 Million
This is a settlement for the Securities/Stock Fraud lawsuit.
Cbeyond, Inc. (NASDAQ: CBEY) announced today that the parties have filed papers
seeking preliminary approval of the settlement of the previously disclosed
securities class action lawsuit filed in the United States District Court for
the Northern District of Georgia.
Although defendants continue to deny plaintiffs' allegations, the Company believes it is in the best interests of its stockholders to focus its attention on its business and put the matter behind it.
The settlement is subject to approval by the Court, and the settlement amount of $2.3 million will be paid by the Company's D&O insurance coverage, with no impact to Cbeyond`s financial statements.
Cbeyond Inc, is a provider of IT and communications services to more than 46,000 small businesses throughout the United States.
SEPT-15-09: Cbeyond Reaches Prelminary Settlement of $2.3 Million [REUTERS: CBEYOND ANNOUNCES PRELIMINARY SETTLEMENT]
Published on Sep-15-09
Although defendants continue to deny plaintiffs' allegations, the Company believes it is in the best interests of its stockholders to focus its attention on its business and put the matter behind it.
The settlement is subject to approval by the Court, and the settlement amount of $2.3 million will be paid by the Company's D&O insurance coverage, with no impact to Cbeyond`s financial statements.
Cbeyond Inc, is a provider of IT and communications services to more than 46,000 small businesses throughout the United States.
SEPT-15-09: Cbeyond Reaches Prelminary Settlement of $2.3 Million [REUTERS: CBEYOND ANNOUNCES PRELIMINARY SETTLEMENT]
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