WM Agrees to $30 Million Investor Class Settlement (Correct)

Waste Management Inc. agreed to pay $30 million to resolve class action claims stemming from the garbage collection company’s 2020 purchase of Advanced Disposal Services Inc.

The pension funds serving as class representatives sought preliminary approval of the agreement in the US District Court for the Southern District of New York on Thursday.

The settlement between WM, three top executives, and investors who got five series of senior notes to fund the acquisition would end the suit claiming the company misrepresented the deal’s timeline before announcing it didn’t meet a June 2020 deadline.

• By February 2020, it became clear to ...