The investors estimated potential recoverable damages could have been significantly higher but would have been difficult to achieve through continued litigation. Settlement proceeds are expected to be distributed among class members after administrative processing.
The plaintiffs were represented by attorneys from Saxena White PA, including Lester R. Hooker, Steven B. Singer, Joshua H. Saltzman, and Sara DiLeo.
The defendants were represented by lawyers from Cooley LLP.
The case is captioned Retiree Benefit Trust of the City of Baltimore v. Malibu Boats Inc. et al., filed under case number 1:24-cv-03254 in the Southern District of New York.
