BigClassActions.com

KVH Industries Inc.



Middletown, RI: (Jul-27-07) A shareholders class action lawsuit was brought against KVH Industries Inc. and some of its directors and officers, alleging that the company violated federal norms pertaining to their corporate governance policies and practices. The suit, filed in federal court on behalf of a class of KVH shareholders, reached a settlement in which the company agreed to pay an aggregate cash payment of $5.3 million to the plaintiffs and their attorneys. As part of the settlement, KVH also agreed to adopt, formalize, or reconfirm adherence to certain corporate governance policies and practices. The settlements are subject to notice to shareholders and approval by the US District Court for the District of Rhode Island and the Rhode Island Superior Court. In agreeing to the settlement, KVH did not admit any wrongdoing by the company or its officers. [CNN NEWS: KVH SECURITIES]


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