Arrow Financial’s $850,000 Securities Settlement Gets Court Nod

Arrow Financial Corp. investors got final approval from a federal court for an $850,000 settlement in a suit alleging securities law violations over the bank holding company’s financial reporting practices.

The suit alleged Arrow hid paltry financial reporting controls that caused it to miss timely filings with the Securities and Exchange Commission, sending the stock down after the company told investors that risked it being delisted from the NASDAQ. Judge Anne M. Nardacci of the US District Court for the Northern District of New York on Thursday signed off on the deal, which includes $283,900 in attorneys’ fees, representing 33.4% ...