Homestore’s Settlement of Shareholder Suit OKd
From Bloomberg News
Homestore Inc., the biggest online home-listings company, received final court approval for its $91-million settlement of a shareholder lawsuit brought by the California State Teachers’ Retirement System.
Homestore said it would pay $13 million in cash and issue 20 million new shares, valued at $78 million at Tuesday’s closing price. U.S. District Judge Marsha Pechman in Seattle approved the settlement Tuesday.
From Bloomberg News
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