Business Services Industry
Proposed $6 million Halliburton settlement raises concern.
Knight Ridder/Tribune Business News, August, 2004
By Gregg Jones, The Dallas Morning News Knight Ridder/Tribune Business News
Aug. 27--A federal district judge expressed concerns Thursday with the proposed $6 million settlement of a class-action lawsuit that accuses Halliburton Co. and its senior executives of defrauding investors.
The amount "doesn't provide much to anybody, except the lawyers," Judge Barbara Lynn said near the end of a four-hour hearing in a Dallas courtroom.
Judge Lynn said she would rule by the beginning of next week on whether to accept the settlement favored by Halliburton and three lead plaintiffs.
A dissenting lead plaintiff u the nonprofit Archdiocese of Milwaukee Supporting Fund u asked Judge Lynn to reject the settlement, which it contends is too...
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