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Heelys Settles Securitiies Class Action for $5.25 Million

Dallas, TX: A $5.25 million settlement has been approved by a federal judge in the class action lawsuit against Heelys, a company that makes shoes with a wheel in the heel.

The securities class action centered around allegations of breach of fiduciary duties by officials related to the initial public offering of the company in 2006.

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Last updated on Nov-24-09