Compass Minerals’ Investor Class Settlement Gets First Court Nod

Compass Minerals International Inc.‘s $4.9 million settlement garnered a federal judge’s initial approval to resolve allegations it misled shareholders over its wildfire retardant unit’s quality.

The first nod comes months after the same Chief Judge Eric F. Melgren preliminarily approved Compass’ $48 million accord in another proposed investor class action—that one concerns representations about the costs and abilities of its updated salt mining system. The US District Court for the District of Kansas judge oversees shareholder derivative actions carrying similar accusations about the miner’s systems and materials that combat fire and ice.

• This smaller settlement, which Melgren preliminarily approved ...