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Judge OKs settlement over NovaStar 401(k)

A federal judge gave preliminary approval last week to a $925,000 settlement in a class action lawsuit against Kansas City firm NovaStar Financial. The lawsuit claimed violations of the Employee Retirement Income Security Act and encompasses a class of people who were participants or beneficiaries of NovaStar's 401(k) plan over an 18-month period in 2006 and ...

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