USA: Aurora Foods' shareholder lawsuit settlement confirmed
Aurora Foods Inc. (NYSE: AOR) announced that the United States District Court for the Northern District of California Friday (11 May) confirmed the settlement of all class action and derivative suits brought against the Company relating to the earnings restatements announced in February 2000. As a result of the settlement, the Company anticipates it will record a net, after-tax, non-cash gain in the range of $2 million to $3 million in the second quarter of 2001 related to its receipt of shares from former management.
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