Acuity Brands, Investors Win Nod for $15.8 Million Settlement

Acuity Brands Inc. and investors who say it misled them about how increased competition affected performance won final approval from a federal judge in Georgia for a nearly $15.8 million deal resolving their securities dispute.

The cash settlement covers investors who purchased the lighting and building management solutions company’s publicly traded common stock from Oct. 7, 2015, through April 3, 2017, and lost money as a result, the US District Court for the Northern District of Georgia said Tuesday.

The class, which Judge Mark H. Cohen certified in 2020, excludes those with certain close ties to Acuity, the final judgment ...