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LOUISVILLE, Ky. (AP) - A federal judge has approved two class-action settlements totaling $42 million against Fruit of the Loom Inc.
The settlements stem from lawsuits accusing the company's former top officeholders of lying to analysts to boost the Bowling Green, Ky.-based Fruit of the Loom's stock. The suits were filed by people and pension plan agencies that bought stock in the company in the mid-1990s.
One settlement, for $23.2 million, covers stock purchased between July 24, 1996, and Sept. 5, 1997. The other settlement, for $19.1 million, covers stock purchased from Sept. 28, 1998, through Nov. 4, 1999.
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