Pinnacle Micro Settles Shareholder Suit

Irvine-based Pinnacle Micro Inc., a maker of optical data storage devices for computers, has finalized a previously announced $2.3-million settlement of a class-action shareholder lawsuit, the company said Wednesday.

The lawsuit against the company and four of its officers had alleged that the company had made false public statements. Pinnacle’s insurers will pay the settlement and the company said it would not be required to make any additional payments related to the suit.