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Rating:Nuveen Settles Shareholder Lawsuits Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, September 05, 2007

Nuveen Settles Shareholder Lawsuits

by: Armie Margaret Lee

Nuveen Investments has settled suits brought by some shareholders in connection with the Chicago-based asset manager's sale to a group of private equity investors. Nuveen, which denied the allegations, disclosed the settlement in an SEC filing on Tuesday. As part of the proposed settlement, Nuveen agreed to pay $1,000,000 to the plaintiffs' attorneys for their fees and expenses. Nuveen said the settlement will not affect the amount of consideration to be paid to the company's shareholders in connection with the merger and will not affect the timing of the shareholder meeting on the transaction, slated September 18. The settlement is subject to final approval by the court.  

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