Martin L. Grass, the former chairman and CEO of Rite Aid Corp., will pay $1.45 million to settle a shareholders’ lawsuit charging that the retailer’s books were falsified in order to inflate the company’s stock value.
Grass still faces criminal charges in the matter, though his attorney says that a civil settlement doesn’t mean that Grass is admitting any culpability, guilt or responsibility in the matter.
Grass still faces criminal charges in the matter, though his attorney says that a civil settlement doesn’t mean that Grass is admitting any culpability, guilt or responsibility in the matter.
- KC's View:
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Of course not. People always pop for $1.45 million when they’ve got an ironclad defense.
By the way, this stuff about cooking the books to inflate a company’s stock price? We sure are glad that doesn’t happen in the food industry…
