Symantec, Investors Win Final Approval of $70 Million Settlement

Symantec Corp. and investors who say it misled them about its financial performance following two 2016 acquisitions secured final approval for a $70 million deal to resolve the suit in federal court in California.

The cash settlement “represents a recovery of approximately 6.9% of the absolute maximum possible damages for all claims,” the U.S. District Court for the Northern District of California said. “This is a low-end deal but barely within the range of reasonableness.”

Investors accuse the software company—now known as NortonLifeLock Inc.—of manipulating its financial reports to make its performance look better after it acquired Blue Coat ...