Business in the Burbs

Yonkers-based EVCI reaches settlement in class-action lawsuit

May

Anyone who bought shares from Aug. 14, 2003, to Dec. 6, 2006, of EVCI Career Colleges Holding Corp., the Yonkers company that runs career colleges, may be eligible to share in a proposed $7.73 million class-action settlement, a New York law firm said this morning.

A federal judge in U.S. District Court in Manhattan must still approve the settlement and has scheduled a hearing a for July 27, the firm of Bernstein Litowitz, Berger & Grossman LLP said.

The lawsuit filed in December 2005 by a shareholder named Geoffrey Glauser alleged the company misrepresented its business conditions, financial results and prospects.

This entry was posted on Monday, May 21st, 2007 at 9:55 am by Allan Drury. You can follow any responses to this entry through the RSS 2.0 feed.
Category: In the courts

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