OM Group Settles

OM Group, Inc. (NYSE: OMG), a Cleveland-based maker of metal-based chemicals, has announced the preliminary settlement of the securities class action pending against the company in the N.D. of Ohio. The suit was originally filed in 2002 following a dissapointing earnings announcement. The company subsequently engaged in a financial restatement. The settlement is for $84.5 million ($76 million in cash and $8.5 million in common stock).

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