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Article: Cbeyond Announces Preliminary Settlement in Derivative Lawsuit.
- Article from:
- Insurance Weekly News
- Article date:
- November 13, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cbeyond, Inc. (NASDAQ: CBEY) announced that the Superior Court of Fulton County, Georgia issued an order granting preliminary approval of the settlement of the previously disclosed derivative lawsuit captioned In re Cbeyond, Inc. Derivative Litigation. Although defendants continue to deny plaintiffs' allegations, the Company believes it is in the best interests of its stockholders to focus its attention on its business and put the matter behind it. The settlement is subject to final approval by the Court. As described in the attached Notice, the settlement provides, among other things, for payment of fees and expenses incurred by plaintiffs' counsel in the amount of ...
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