Monster Settles Class Action

Quite an eventful afternoon for Monster Worldwide (MNST).

For starters, the company announced that it has reached a tentative settlement of a securities class action connected with the its previous stock option-granting practices. Defendants will pay $47.5 million; Monster’s share net of insurance and a contribution from another defendant will be $25 million.

Monster also said a state court has granted approval of a previously announced preliminary settlement of related securities derivative lawsuits. The company will receive $10 million “from various individuals.” Also, the Class B shares held by former chairman and CEO Andrew McKelvey will be converted to ordinary common stock, restricted stock units will be canceled and the exercise price of certain options will be increased.

Read the rest of this post


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »