Tattooed Chef Inc. investors deserve preliminary approval for their roughly $4.8 million class settlement of securities fraud claims against co-founders and former executives of the bankrupt frozen food producer, a federal court ruled.
The deal is sufficiently fair and reasonable to proceed, Judge George H. Wu said Tuesday for the US District Court for the Central District of California after receiving “minor” revisions he had requested.
The consolidated class action alleges Tattooed Chef overstated revenue and understated losses during a period when then-CEO Salvatore “Sam” Galletti made an $8 million stock sale.
Stephanie Dieckmann, chief operating officer and later ...
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