Blue Ridge Bankshares’ $2.5 Million Investor Deal Gets Court Nod

Blue Ridge Bankshares Inc.‘s $2.5 million settlement earned a federal court’s final approval to resolve investor allegations tied to its loan accounting.

The US District Court for the Eastern District of New York magistrate judge who’d previously recommended the agreement be preliminarily approved granted his official final blessing several months after taking over as the presiding judge of the case. Magistrate Judge Joseph A. Marutollo granted class counsel one third of the sum, about $833,333, in attorneys’ fees and about $45,415.00 in expenses reimbursed, plus awarded the investor leading the case $3,500, according to docket entries Thursday.

• The suit, ...