Rayovac Corp. (NYSE: ROV), a Madison-based consumer products company, has announced the preliminary settlement of the securities class action pending against the company in the W.D. of Wisconsin. The suit, originally filed in May 2002, alleges that the company and certain of its officers made misleading statements regarding the demand for the company’s products and the company’s future prospects in connection with a secondary offering. The settlement is for $4 million, to be “principally funded” by Rayovac’s insurance carriers.
Filed under Settlement