AT&T Settles

The AT&T securities class action went to trial, but there will be no jury verdict. AT&T (NYSE: T), a N.J.-based telecommunications company, announced today that after three weeks of trial proceedings it is settling the case for $100 million, or about 4% of the damages being sought by the plaintiffs. The company also said that “it intends to seek reimbursement from its insurers for the amounts to be paid.”