July 8, 2008 -
Coca-Cola has agreed to pay $137.5 million to settle a shareholder lawsuit charging officials at the Atlanta-based company with misrepresenting or omitting information from public statements, causing artificial inflation of stock prices.
The plaintiffs in the class-action suit were led by two union pension funds: the Carpenters Health & Welfare Fund of Philadelphia, which held about $80 million in company stock at the time of the filing, and and Local 144 Nursing Home Pension Fund, now called 1199 SEIU Greater New York Pension Fund.