Papa Murphy’s Holdings Inc. and investors who say it misled them ahead of a 2019 merger with MTY Food Group may move forward with a $2.4 million settlement, a federal judge in Washington said.
The cash deal “represents approximately 6.75-17.25% of potential recoverable damages,” according to a memo the take-and-bake pizza chain’s investors filed as part of their preliminary settlement approval bid in the U.S. District Court for the Western District of Washington. Judge Benjamin H. Settle granted the motion.
The recovery is “significantly higher” than the 1.7% median for securities class actions in 2020, the investor memo said. The ...
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