LAWSUITS NEWS & LEGAL INFORMATION
WSB Financial Reaches Tentative Settlement of $4.85 Million
This is a settlement for the Securities/Stock Fraud lawsuit.
WSB Financial Group, the parent company of Westsound Bank, today reported it has entered into a settlement agreement with the lead plaintiff in the pending securities class action. The class action settlement is subject to the approval of the United States District Court for the Western District of Washington.
The settlement agreement provides for the certification of a class consisting of all persons who purchased the Company's common stock pursuant or traceable to its initial public offering completed on December 21, 2006. The total amount of the settlement is $4.85 million. The Company's directors' and officers' liability insurance policy will contribute approximately $4.45 million towards the settlement amount and has previously contributed approximately $350,000 towards the Company's legal fees. The settlement agreement contains no admission of fault or wrongdoing by the Company or the other defendants.
Published on Oct-14-08
The settlement agreement provides for the certification of a class consisting of all persons who purchased the Company's common stock pursuant or traceable to its initial public offering completed on December 21, 2006. The total amount of the settlement is $4.85 million. The Company's directors' and officers' liability insurance policy will contribute approximately $4.45 million towards the settlement amount and has previously contributed approximately $350,000 towards the Company's legal fees. The settlement agreement contains no admission of fault or wrongdoing by the Company or the other defendants.
Legal Help
If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.Published on Oct-14-08
