A motion for preliminary approval of a class action settlement was filed in California federal court on December 19, 2017 by investors in Marvell Technology. Under the deal, Marvell will pay pay $72.5 million to end an investor class action alleging the company’s stock dropped 16 percent after inflated revenue projections proved false.
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In 2006, former employees of Price Waterhouse filed a putative class action alleging that when they were paid a lump sum distribution of their benefits under Price Waterhouse’s retirement benefit plan before age 65, Price Waterhouse’s calculations didn’t meet Employee Retirement Income Security Act standards.