According to a filing with the U.S. Securities and Exchange Commission from Monday August 11th, 2008 by the American Italian Pasta Co. (OTC:AITP ) on August 5th, 2008 an court order was issued, which is subject to a 30-day appeal period. As part of the $25 million settlement reached in the shareholder lawsuit against American Italien Pasta Co., the parties subsequently agreed on the final share calculation and the Company will issue it will issue 903,078 shares 903,078 shares no later than ten days after September 4th, 2008, the day on which the appeal period for the Court order expires.
The approximately $25 million settlement in the shareholders lawsuit against Kansas City-based pasta-producer American Italian Pasta was reached on February 12th, 2008, to resolve federal securities law claims in a consolidated class action filed in August 2005. American Italian Pasta agreed to pay $14 million and $11million should come from insurers. Ernst & Young announced on May 22nf, 2008 that it has settled its part of the class-action, agreeing to pay $3.5 million before expenses to affected stockholders. The proposed settlement, which must be approved by plaintiffs, would provide 15 cents a share before expenses. Neiter of the party admitted any wrongdoing in the settlement.
If you hold or held American Italian Pasta Co. (OTC:AITP ) shares between 10/25/2000 and 8/9/2005, you have certain rights and you should immediately contact the Shareholders Foundation, Inc.
