LAWSUITS NEWS & LEGAL INFORMATION
CP Ships Settles Investors Class Action for $12.8 Million
This is a settlement for the Securities/Stock Fraud lawsuit.
Toronto, ON: A $12.8 million settlement has been reached in the securities class action brought by investors in CP Ships Ltd.
The class action was brought on allegations that the company had overstated its profits in 2004, and faced charges of insider trading. The company was sold in a takeover to Germany's TUI AG in 2005.
Anyone who bought CP Ships securities between January 29, 2003, and August 9, 2004, or who held CP Ships securities on Aug. 9 2004, should file their claims by June 7, 2010.
Published on Mar-30-10
The class action was brought on allegations that the company had overstated its profits in 2004, and faced charges of insider trading. The company was sold in a takeover to Germany's TUI AG in 2005.
Anyone who bought CP Ships securities between January 29, 2003, and August 9, 2004, or who held CP Ships securities on Aug. 9 2004, should file their claims by June 7, 2010.
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