Biofuel case: $4.5M for investors under federal settlement
June 11, 2017
JACKSON, Miss. (AP) — A federal judge has approved a $4.5 million settlement for private shareholders of failed biofuel maker KiOR, and a lawsuit by the state of Mississippi seeking to recover a much larger amount continues.
U.S. District Judge Lee Rosenthal issued the order Monday in Houston approving the settlement, intended to partially compensate 23,000 shareholders for money they lost because of decreases in KiOR's stock price.
Former KiOR CEO Fred Cannon, lead investor Vinod Khosla and former Chief Financial Officer John Karnes are to pay the money under the settlement. Lawyers are...