Long-running litigation between BofI Holding Inc. and investors who allege the banking company misrepresented the safety of its stock had ended with final court approval of a $14.1 million class settlement.
Attorneys’ fees of $3.5 million, or $25% of the settlement amount, are reasonable, Judge Gonzalo P. Curiel said for the US District Court for the Southern District of California.
Only one investor sent in a valid exclusion request, and no class member objected to the settlement, Curiel said in an order docketed Oct. 14.
BofI was a holding company for the former Bank of Internet. The companies are now ...
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