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Michigan Announces $24.5M Settlement With Tyco
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LANSING, Michigan (AP) — Michigan has announced a $24.5 million settlement with Tyco International Ltd. as a result of a 2008 lawsuit filed by the state to recoup state pension fund losses.
Tyco's top executives went to prison over a multibillion dollar accounting fraud. The state owned Tyco stock, which plummeted as the scheme became public.
The settlement proceeds go to the State of Michigan Retirement Systems. ...
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