$15M Investor Deal Against Bank Over Misstatements Gets Initial Approval

Mealey's (February 6, 2023, 10:37 AM EST) -- HARRISBURG, Pa. — A federal judge in Pennsylvania granted preliminary approval of a $15 million settlement in a securities class action lawsuit against a financial institution, its parent holding company and others claiming that the defendants concealed issues with the bank’s internal controls and processes, ruling that the settlement preliminarily meets all statutory requirements for approval....