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Case ID: 4706 | Stocks | 03/17/2006
Lowrance Electronics, Inc. announced that Lowrance and the members of its board of directors have entered into an agreement to settle the stockholder class action lawsuit brought against Lowrance and the members of its board in opposition of the offer and merger transaction with Simrad Yachting AS and Simrad Yachting's wholly owned subsidiary, Navico Acquisition Corporation.
Under the agreement in principle, Lowrance, Simrad Yachting, Navico and their respective advisors would be released from all claims that have been brought or could have been brought under state or federal law arising out of or related to the offer and any subsequent merger. In consideration for the settlement and dismissal with prejudice of the action and the releases, Lowrance agreed to include additional disclosures in its filings with the Securities and Exchange Commission and not to oppose a fee application by plaintiff's attorneys of $325,000. The proposed settlement is subject to customary conditions, such as the completion of discovery in the action by plaintiff's counsel and court approval. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest A class action has been filed against Willbros Group, Inc. (NYSE:WG), certain of its officers and directors by stockholders who purchased the company's common stock between May 06, 2002 and May 16, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against Tower Automotive, Inc. (NYSE:TWR), and certain of its officers and directors by stockholders who purchased the company's common stock between February 14, 2003 and January 21, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action lawsuit has been filed against Prestige Brand Holdings, Inc. (PBH), certain of its officers and directors by stockholders who purchased the company's common stock between February 09, 2005 and July 28, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against Sharper Image Corporation (NasdaqNM:SHRP), certain of its officers and directors by stockholders who purchased the company's common stock between February 05, 2004 and August 04, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against National Australia Bank, Ltd. (NYSE: NAB) and certain of its officers and directors by stockholders who purchased the bank's ADRs between April 1, 1999, and September 3, 2001. The stockholders seek to recover compensatory damages for the loss of value of their ADRs. A class action has been filed against BearingPoint, Inc. (NYSE:BE), certain of its officers and directors by stockholders who purchased the company's common stock between August 14, 2003 and April 20, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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