United Rentals Settles

United Rentals, Inc. (NYSE: URI), a Connecticut-based equipment rental company, has announced the preliminary settlement of the securities class action pending against it in the D. of Conn. The case, originally filed following the August 2004 disclosure of a SEC inquiry, stems from allegations that the company manipulated the company’s publicly-released financial data through improper accounting practices. The settlement is for $27.5 million and is contingent upon United Rentals and its insurers finalizing agreements on the portion of the settlement to be funded by the insurers.

Leave a comment

Filed under Settlement

Comments are closed.