American Italian lawsuit settlement OK'd by court
American Italian Pasta Co. said today that the U.S. District Court in Kansas City has approved a previously disclosed $25 million shareholder lawsuit settlement pertaining to securities violations.
The settlement calls for the Kansas City-based pasta-making company to pay $11 million in cash -- all of which will be provided by the company's insurers -- and $14 million in American Italian stock.
The settlement involves alleged securities law violations related to an announcement by the company in August 2005 when the company said it was delaying the filing of certain financial statements with the Securities and Exchange Commission and would also restate a number of previous SEC financial filings. Read more
Join the discussion below, or Read more at Kansas City Star.
#1 Feb 14, 2008
Why not go after Tim Webster's personal assets as well to supplement the shareholder's losses?
Seems fair. Dog biscuits anyone?
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