Seven class action lawsuits were filed against the company for allegedly misleading investors to inflate the value of stock. The lawsuits were filed on behalf of shareholders who bought stock from November 5, 2003 to February 26, 2004. SPX admits no wrongdoing, but has agreed to pay a $10 million settlement. SPX also agreed to pay $3.6 million for a lawsuit on behalf of employees in a retirement and stock ownership plan. (Jan-09-07)
[CHARLOTTE OBSERVER: SPX SETTLEMENT]
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