Class Action Settlement Approved in Laser Company Fraud Case

A German laser communications company and its investors gained final approval of a $300,000 class action settlement to end claims the company inflated its financial status.

Mynaric AG overstated its business and financial prospects and made “materially false and misleading” public statements as its share price dropped last year, said Judge Kiyo A. Matsumoto of the US District Court for the Eastern District of New York. She approved a deal that included attorneys fees of $100,000—one-third of the settlement.

• The settlement is “fair, reasonable and adequate,” said Matsumoto, in part because reaction of the class has been “extremely positive” with ...