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News Breaks
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April 28, 2011
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| 14:52 EDT |  | FFHL |
| theflyonthewall.com: | Fuwei Films announces court approval of settlement of class action litigation | | Fuwei Films announced that the settlement agreement entered into with plaintiffs in the securities class action pending in federal district court in New York was approved by the court at the fairness hearing held on April 27. The action has been dismissed with prejudice. As previously disclosed, in September 2010, pursuant to a settlement agreement and subject to the Court's approval, plaintiffs agreed to accept $2.15M in full and final settlement of all claims they have or may have against the company, certain of its present and former officers, directors, and shareholders, and the underwriters. Fuwei Films agreed to contribute $1M towards the settlement. :theflyonthewall.com |
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