Five Years Later

The Newark Star-Ledger reports in yesterday’s edition that the court has approved the settlement in the securities class action against Party City Corp. The case was filed in the U.S.D.C. of New Jersey in 1998, dismissed in 2001, scheduled to be heard on appeal to the Third Circuit in 2002, before finally settling prior to the appellate hearing for $3.8 million.

Quote of note: “Attorneys estimated the settlement works out to about 33 cents a share for members of the class, before deducting attorneys’ fees.”

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