The University of Miami School of Law’s investor rights clinic has received $107,282 from the settlement of a class action lawsuit against Regions Bank related to U.S. Pension Trust Corp.’s sale of unregistered securities in the 1990s.
The money is a cy pres distribution of money left over from a $13 million settlement after distributing most of the settlement to the class members. It would have cost $120,000 to cover the cost of another round of distributions to investors, said clinic director Teresa J. Verges.
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