Proposed $129 Million Granite Construction Settlement Detailed

A special master overseeing the allocation of Granite Construction’s $129 million securities settlement has recommended using a 2.21 ratio to apportion the fund between class members’ Securities Act and Exchange Act claims, according to a U.S. District Court for the Northern District of California filing.

“Each set of claims is stronger than the typical claim of its type,” but relatively speaking, the Securities Act of 1933 claims are stronger than the Securities Exchange Act of 1934 claims, Special Master Bruce A. Ericson said in the Thursday report.

Both the Securities Act—which controls the registration of securities—and the Exchange Act—which controls ...