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A federal judge in Pennsylvania has granted final approval of a $7 million settlement in a securities class action against Ravisent Technologies brought by investors who said the company used false statements to inflate the price of its stock at the time of its initial public offering. Judge R. Barclay Surrick also awarded attorney fees equal to one-third of the settlement fund -- more than $2.3 million -- to plaintiffs' lawyers from six firms who logged more than 1,700 hours on the case.
April 25, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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