A sweeping class-action lawsuit brought against some of Wall Street’s top investment banks in the wake of the dotcom bust ended in anti-climax on Tuesday, after a US judge approved a settlement that will cover only 1 cent for each dollar of losses investors suffered. The resolution of the eight-year-old case, which will result in 55 banks that acted as underwriters to IPOs by tech companies paying out $586m, brings the curtain down on an historic stock market fiasco.

This entry was posted by Gwen Robinson on Thursday, October 8th, 2009 at 4:39 and is filed under Capital markets. Edit this entry.