Date: November 8, 2001
Source: News Room
Waste Management Inc. has agreed to pay $457 million to settle a class-action lawsuit claiming its executives misled investors about the solid waste giant¹s finances two years ago to drive up the stock price. The settlement, announced Wednesday, resolves all claims of securities law violations alleged after the Houston company in 1999 lowered its earnings expectations, acknowledging it contained certain unusual pretax items. Shareholders who purchased or sold shares of Waste Management Inc. between June 11, 1998, and Nov. 9, 1999, may file a claim for damages. More information: www.wm.com.
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