Owlet Investors Seek Final Nod for $3.5 Million Class Settlement

Owlet Inc.‘s $3.5 million agreement to settle securities class claims over its baby monitoring product’s readiness for market deserves final approval, investors told a federal court.

The deal followed a decision by Judge Fernando L. Aenlle-Rocha allowing some claims to proceed in the US District Court for the Central District of California. Aenlle-Rocha should sign off on the accord because it’s fair, with the settlement amount representing about 38% of total estimated recoverable damages on the remaining claims, the investors said in their Jan. 2 filing.

• The suit alleges Owlet misled investors by saying it didn’t need the Food ...