Blue Ridge Bankshares Agrees to $2.5 Million Investor Settlement

Blue Ridge Bankshares Inc. has reached a $2.5 million settlement in a proposed securities class action over allegedly improper loan accounting, according to a federal court filing.

Lead investor Russell Hunter’s agreement with the parent company of Blue Ridge Bank NA should be given preliminary approval, he told the US District Court for the Eastern District of New York on Tuesday. “This case is a model of how skilled counsel on both sides can quickly assess a situation and reach a resolution that serves their clients’ interests,” Hunter said.

• The investor alleged that a new lending executive made large loans ...