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Adams Golf Settles $16.5 Million Shareholder Class Action Suit
By Sarah Pierce
If you or someone in your family bought shares of Adams Golf, Inc. stock between July 9, 1998 and October 22, 1998, you may be eligible to claim part of a $16.5 million class action settlement.
The settlement will end a 10-year-old lawsuit that accuses Adams Golf of misleading shareholders and causing their shares to lose value by failing to tell them that Adams Golf clubs were being sold to the public by discounted retailers while at the same time emphasizing Adams Golf’s “exclusive” retail network.
If all shareholders file a claim, the class action settlement could be worth an average of $2.39 to $2.57 a share, or 19% and 21% of their estimated losses. Your actual recovery of the $16.5 million class action settlement will depend on how much you lost, how many class members submit valid proofs of claim, and the amount of attorney’s fees the court awards.
Updated April 12th, 2010
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