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Resideo Investors Get Final Court Approval of $55 Million Deal

March 25, 2022, 9:31 PM

Resideo Technologies Inc. will pay $55 million to investors who accused the residential automation company of misleading them about its 2018 spin-off from Honeywell International Inc., according to a settlement that received final approval from a federal court in Minnesota.

The Gabelli Asset Fund and other named plaintiffs accused Resideo of making materially false and misleading statements in connection with the operations of the company following its spin-off. The investors alleged that they were misled about the company’s viability as a stand-alone company.

The parties sought initial court approval for the settlement, which followed about seven months of negotiations, in ...