Cerence Inc.'s $30 million settlement of investor securities fraud claims over the vehicle software company’s revenue is reasonable, a federal court said in granting final approval to the class deal.
Judge Allison D. Burroughs gave a green light to an attorneys’ fee award of 25% of the net settlement fund after expenses in an order Wednesday for the US District Court for the District of Massachusetts. She also approved nearly $130,000 in expenses and a $7,600 lead plaintiff award.
- The investors alleged Cerence, which makes AI-powered virtual assistants for automobiles, touted “strong demand” for its software licenses through 2024, but ...
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