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Stock Market & Financial Investment News

News Breaks
August 19, 2014
16:06 EDTCISGCNinsure announces final court approval of settlement of class action lawsuit
CNinsure announced that the United States District Court for the Southern District of New York has granted final approval of the agreement to settle a consolidated class action lawsuit against the Company and entered final judgment dismissing the case on August 15. The approved settlement resolves all the claims asserted on behalf of purchasers of its American depository shares between March 2, 2010 and November 21, 2011 in exchange for a payment of $6.63M by the company, which will be covered by insurance proceeds. The settlement agreement contains no admission of liability, fault or wrongdoing by the company. The company denies any and all of the allegations made against it by the class in the litigation and has agreed to settle this matter solely to eliminate the uncertainties, risks, costs and burdens of further protracted proceedings.
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November 21, 2014
15:58 EDTCISGNeil Gagnon reports 5.29% passive stake in CNinsure
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