Global Payments Settles Securities Class Suit for $3.6 Million

Global Payments Inc. has agreed to pay $3.6 million to settle investor claims that a company it had acquired continued to deceptively market memberships to consumers after the merger.

The settlement in the proposed class action merits preliminary approval, the investors told the US District Court for the Northern District of Georgia Wednesday.

With the parties far apart on their assessment of maximum damages, the risks of litigation are high for class members, the investor-plantiffs said. Their expert estimated the recovery ceiling at about $97 million, they said. But Global argued the price of its common stock tracked the movement ...