Request Legal Help Now - Free
LAWSUITS NEWS & LEGAL INFORMATION

Motorola Reaches $200M Settlement in Securities Lawsuit


This is a settlement for the Securities/Stock Fraud lawsuit.

New York, NY: A $200 million settlement has been reached with Motorola Solutions Inc, bringing to an end a securities lawsuit filed in 2007 by company shareholders. Motorola has denied any wrongdoing.

The securities lawsuit, filed before Motorola split into two companies last year, alleged the electronics manufacturer had artificially inflated its stock by making misrepresentations about the company's projected revenues for the third and fourth quarters of 2006.

Lead plaintiffs in the lawsuit are Macomb County Employees' Retirement System and St. Clair Shores Police and Fire Pension System.

Lawyers representing all plaintiffs said the settlement represents an extraordinary recovery for investors in a case where there was no financial restatement or (Securities and Exchange Commission) investigation.

Shareholders who acquired stock between July 19, 2006, and January 4, 2007, may be eligible for a recovery.

According to the terms of the proposed settlement, the plaintiffs' attorneys are seeking fees of 27.5 percent of the settlement, or $55 million, and expenses of up to $4.95 million.

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 Feb-3-12


ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.
Request Legal Help Now! - Free