Textron Reaches $7.9 Million Deal to End Arctic Cat Sales Suit

Textron Inc. and shareholders have agreed on a $7.9 million settlement to resolve claims that the manufacturer violated securities laws when it allegedly misled investors about its inventory of older, pre-2018 models of Arctic Cat snowmobiles and all-terrain vehicles, according to a filing in a federal court in New York.

The motion for preliminary approval of the deal, filed Thursday in the US District Court for the Southern District of New York, proposes a settlement class comprising “all persons or entities who purchased or otherwise acquired Textron common stock on the NYSE or other U.S. exchanges or in a U.S. ...