In the wake of Nortel’s plans to cough up $2.47-billion of cash and stock to settle two major class-action lawsuits, the company’s insurers have subsequently agreed to chip in another $228.5-million as a result of their liability coverage for Nortel officers and directors. The additional cash means Nortel will become the fourth-largest settlement of a U.S. class-action securities fraud sit, just behind the $3.2-billion paid by Cendant Corp.
would like additional information regarding claim forms and payouts per the recent settlement as i held approximately 12-15 thousand shares of Nortel during the class period…
Thank you,
Anthony J. Mosich
P.S.- Thanks for the dividend…err…payout Nortel.
Chili
Would like info on how to post claim for shares i held.
Class-action Lawsuit Settlement Cost Rises
In the wake of Nortel’s plans to cough up $2.47-billion of cash and stock to settle two major class-action lawsuits, the company’s insurers have subsequently agreed to chip in another $228.5-million as a result of their liability coverage for Nortel officers and directors. The additional cash means Nortel will become the fourth-largest settlement of a U.S. class-action securities fraud sit, just behind the $3.2-billion paid by Cendant Corp.