NEW YORK-LAWFUEL – Class Action News Network –The following was released today by Zwerling, Schachter & Zwerling, LLP:
Zwerling, Schachter & Zwerling, LLP announced today that it has distributed settlement checks to Telxon Corporation Shareholders who filed valid claims in the securities class action Hayman v. Pricewaterhouse Coopers LLP, No. 1:01 CV 1078 (N.D. Ohio) (“PwC”). The settlement fund in the PwC action totaled $27.9 million, and was in addition to the $40 million settlement previously reached in the related action In re Telxon Corporation Securities Litigation, No. 5:98 CV 2876 (N.D. Ohio). The two actions alleged that Defendants’ material false and misleading statements artificially inflated the price of Telxon securities, and that, as a consequence, purchasers of Telxon securities suffered damages.
As a result of the combined $67.9 million settlement, Telxon Shareholders who filed valid claims recovered between $0.30 and $0.74 per dollar of their recognized loss, an outstanding recovery. Settlement of these securities fraud class actions would not have been possible without the unrelenting efforts of lawyers at the Zwerling Schachter law firm.
About Zwerling Schachter
Zwerling Schachter concentrates in prosecuting class actions nationwide on behalf of investors. The firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts and has offices in New York City, Garden City, New York, Boca Raton, Florida and Seattle, Washington. The firm has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities class action litigation.
If you wish to discuss this securities action or have any questions concerning your rights and interests with respect to this litigation, please contact Zwerling Schachter at 1-800-721-3900 or by e-mail at [email protected]
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