Fergie's Tech Blog

Judges Approve $2.45B Nortel Settlement

A Reuters newswire article, via MSNBC, reports that:

Two U.S. judges on Tuesday gave their blessings to an estimated $2.45 billion settlement between Nortel Networks Corp. and shareholders, moving the pact closer to final approval.

Nortel and shareholders had agreed in principle to the settlement in February to put an end to class-action lawsuits stemming from an accounting scandal at the telecommunications equipment company. The settlement still requires approval by various Canadian courts.

posted by Fergie @ 12/26/2006 04:16:00 PM