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Court approves settlement of comScore lawsuits

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Court approves settlement of comScore lawsuits

The U.S. District Court for the Southern District of New York approved the settlement of the consolidated securities class-action lawsuit filed by Fresno County Employees' Retirement Association against comScore Inc.

Under the settlement agreement, the company will issue 3,669,444 shares of common stock of the company, valued at about $82.8 million, to a settlement fund for the benefit of authorized claimants, according to a Form 8-K filed June 13.

The court on June 7 also approved the settlement of derivative actions, which provided for the implementation of certain corporate governance reforms and a payment to the company of $10.0 million in insurance proceeds. The company will issue to Robbins Geller Rudman & Dowd LLP, plaintiffs' lead counsel, 354,671 shares of common stock as payment of attorneys fees, valued at $8.0 million.

The number of shares to be issued under the settlement agreements, which constitute about 7.5% of the shares of common stock outstanding before issuance, will be issued no later than June 21.