January 20, 2015 / 6:25 PM / 4 years ago

Leucadia in $70 mln settlement over Jefferies purchase

Jan 20 (Reuters) - Leucadia National Corp officers and directors have agreed to a $70 million settlement to resolve a lawsuit claiming that executives had conflicts of interest that tainted the company’s November 2012 agreement to buy Jefferies Group Inc.

The settlement was announced on Tuesday by lawyers for former Jefferies shareholders. They claimed that the merger undervalued the investment banking and securities firm, and gave Jefferies shareholders too low a stake in the combined company. (Reporting by Jonathan Stempel in New York; Editing by Bernard Orr)

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