Shareholder lawsuits against Belo Corporation and A.H. Belo Corporation have been settled on what the companies characterize as “favorable” terms. The settlements came after a federal appeals court in August upheld a lower court decision denying class action status to the plaintiffs.
The lawsuits concerned inflated circulation numbers at the Dallas Morning News, which were disclosed by the newspaper and its parent company in 2004. Belo Corp. was a defendant because the lawsuits were filed before the TV company (Belo) and newspaper company (AH Belo) were separated.
According to the defendants, the lawsuits were “settled on terms that Belo Corp. and A. H. Belo Corporation consider favorable, without payment of any settlement amount that is material to either company or its affiliates.”