Dycom Cleared for $9.5 Million Securities Class Settlement

Dycom Industries Inc.'s $9.5 million class settlement with investors received final approval from a Florida federal judge, resolving allegations that the company misled investors about its finances and problems with certain partner firms.

Judge Raag Singhal of the U.S. District Court for the Southern District of Florida on Tuesday granted final approval to the deal, which covers a class of investors who acquired Dycom common stock between Nov. 20, 2017, and Aug. 10, 2018.

Singhal also awarded more than $2.7 million in attorneys’ fees—29% of the settlement—to class counsel, along with nearly $100,000 in litigation expenses.

The securities fraud lawsuit ...