Apache Gets Court Approval for $65 Million Investor Settlement

Apache Corp.‘s $65 million settlement of misrepresentation claims over a drilling project is fair and reasonable, a federal court said in giving the investor class deal final approval.

But Magistrate Judge Andrew M. Edison cut a 33% attorneys’ fee request down to 25% of the fund after subtracting expenses, according to an order Monday accompanying the approval in the US District Court for the Southern District of Texas. That amounts to about $16 million for the investors’ counsel, according to the ruling.

• The suit accused Apache, a subsidiary of APA Corp., of misleading investors about the potential to recover ...