San Francisco, CA: Final court approval has been granted for the settlement of a federal class action filed against Leap Wireless. The lawsuit stemmed from allegations that the company made false and misleading statements regarding its finances.
The settlement amount is $13.75 million, and will end the lawsuits filed between 2007 and 2008, which were consolidated into a class action.
Along with the payout, Leap agreed to "adopt and implement and/or continue to implement or observe various operational and corporate governance measures," according to the company's recent filing with the Security and Exchange Commission.
