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Beckman Reaches $5.5M Settlement In Shareholder Suit

Posted: September 19, 2011
By: Keith Goldberg
Source: Law360
Outcome: Settlement
Practice Areas: Securities Litigation

Law360, New York (September 19, 2011, 10:25 PM ET) -- A class of Beckman Coulter Inc. shareholders on Friday asked a California federal judge to approve a $5.5 million settlement that would resolve claims that the lab equipment maker didn't timely disclose regulatory and product quality issues, hurting the company's stock price.

The parties agreed to the settlement Sept. 13, according to papers filed in the Southern District of California. Under the terms of the settlement, $5 million would be paid to a class of investors who bought Beckman stock between July 31, 2009, and July 22, 2010, and $500,000 would cover expenses incurred in notifying the class and administering the settlement.

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