New York-based Xethanol Corp. has reportedly agreed to pay $2.8 million to settle a securities class action lawsuit. The Gazette reports that the settlement has received preliminary approval from the U.S. District Court for the Southern District of New York, according to lead counsel Kahn Gauthier Sevick LLC. The class is reportedly all shareholders who bought the company’s stock on the American Stock Exchange between Jan. 31, 2006, and August 8, 2006.
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