Judge Gives Preliminary Okay To $7.9M Deal With Textron Investors

By Katryna Perera (Aug. 24, 2022 at 6:56 p.m. EDT) – A federal judge in New York has given the first green light to a $7.9 million settlement between Textron Inc. and investors who own the aviation and recreational vehicle companies accused of hiding sales Performance issues with a snowmobile company bought in 2017.

U.S. District Judge Denise Cote on Tuesday issued preliminary approval of the deal, confirming the class and appointing Kaplan Fox & Kilsheimer LLP as class counsel. She also appointed lead plaintiff IWA Forest Industry Pension Plan as class representative.

The Certified Class includes any person or entity that shares Textron common stock on a U.S. stock exchange or…

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