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Options Backdating Class Action Defense Cases–American Tower Settles Federal Securities Class Action Lawsuits For $14 Million

The Associated Press reports that American Tower Corp. has agreed to pay $14 million to settle class action lawsuits alleging violations of federal securities laws “concern[ing] its historical stock option granting practices and related accounting.” American Tower operates broadcast and communications towers. At that time of AP’s report, it was not know whether American Tower’s insurers’ will contribute to the settlement.