Carlsbad CA: Shareholders filed a consolidated securities class action lawsuit against the action sports company in the United States District Court for the Southern District of California. Orange 21 has reached an agreement to settle the consolidated securities class action for $1.4 million. If approved by the Court, the $1.4 million will be paid to the class of plaintiffs from proceeds of Orange 21's directors' and officers' insurance. No amounts will be paid by the Company. (Jan-16-07)[]
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