Cooper’s $64-Million Settlement OKd by Judge
Cooper Tire & Rubber Co. won a New Jersey judge’s approval for its $64-million settlement of consumer fraud class-action claims.
Judge Marina Corodemus’ action resolves 50 state and federal court lawsuits seeking replacement of tires showing signs of tread failure, court monitoring of four company plants and initiation of a safety education program for drivers. The settlement includes those provisions.
Shares of Findlay, Ohio-based Cooper fell 45 cents to $20.71 on the New York Stock Exchange. The judge’s approval of the settlement was announced after the close of regular trading.
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