|  | | 2013 News and Press Releases | | |
SETTLEMENT NEWS:
Chinese Power Co. $3.7M Securities Settlement Fair: Judge
Matthew Heller
Law360 - Securities. January 7, 2013
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EXCERPT: A California federal judge indicated Monday he will approve a $3.7 million settlement of a consolidated securities class action accusing Chinese power equipment maker A-Power Energy Generation Systems Ltd. and others of inflating revenues in financial reports to investors. Investors who sued A-Power for Securities Exchange Act violations related to the allegedly incorrect reports said the settlement – which represents about 5 percent of the class's estimated damages of nearly $68 million – was “fair, adequate and reasonable” in light of the risks of further litigation.... |
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