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TYCO International Lawsuit


To Pay PRIM $11 Million


PRIM to Receive $11 Million in Tyco Settlement

The Pension Reserves Investment Management (PRIM) Trust, the state pension fund of Massachusetts, has been awarded $11 million as payment from a 2007 lawsuit against Tyco International Ltd.

The suit alleged that Tyco inflated its profit by $5.8 billion between 1999 and 2002. State Treasurer Tim Cahill said the PRIM) Trust opted out of a class-action lawsuit because it would only have resulted in a settlement ranging between $2 million and $4 million dollars.

JAN-23-09: PRIM awarded $11M in Tyco settlement [BIZJOURNALS: PRIM AWARDED $11M IN TYCO SETTLEMENT]

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