SkillSoft Settles

SkillSoft, PLC, (Nasdaq: SKIL) a New Hampshire-based business and IT training software maker, has announced a preliminary settlement of the securities class action pending against the company in the N.D. of Cal. The case was originally filed in 1998 and the plaintiffs allege that SkillSoft misrepresented its financial condition and prospects in connection with its merger with ForeFront. The settlement is for $32 million, with $16 million being covered by insurance.

The Nashua Telegraph has an article on the settlement, which notes that there is another, more recent, securities class action pending against the company in the D. of N.H.

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