Class Action

Court Approves $43.1 Million Settlement in Iridium Litigation and Commends Attorneys? Work

By classlawblog

Working with co-counsel, Finkelstein Thompson LLP achieved a $43.1 million settlement in the securities case captioned Freeland, et al v. Iridium World Communications, Ltd, et al, Case No. CR 99-1002 (D.D.C.).  After nine years of intense litigation, plaintiffs reached settlement agreements with the Defendants that collectively resolved the entire litigation.  Notably, no objections were filed against the terms of the settlement.

At the Fairness Hearing held on October 16, 2008 where the Court gave final approval to the settlement, the Honorable Nanette K. Laughrey sitting by special appointment in the United States District Court for the District of Columbia commended Finkelstein Thompson LLP and co-counsel for their performance in the case, stating, ?[a]ll of the attorneys in this case have done an outstanding job, and I really appreciate the quality of work that we had in our chambers as a result of this case.”

Full post as published by ClassLawBlog.com on November 22, 2008 (boomark / email).