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Litigation

Jul. 29, 2003

Bench Officer OKs Class Settlement In Providian Case

By Joan Osterwalder A federal judge in San Francisco gave final approval last month to an $8.6 million settlement in a class action against Providian Financial Corp., which alleged that the credit card issuer's retirement plan should not have bought the company's falling stock in 2001.

By Joan Osterwalder
        A federal judge in San Francisco gave final approval last month to an $8.6 million settlement in a class action against Providian Financial Corp., which alleged that the credit card issuer's retirement plan should not have bought the company's falling stock in 2001.
        The suit, filed by Providian employees last year...

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