The networking gear maker said the payment would have no effect on Cisco’s financial results. The San Jose, California-based company added that the suit’s claims had no merit, and that it was settling to avoid the expense and disruption it expected from the litigation.
Cisco pays $91m to settle class action suit
Cisco Systems Inc said it and some of its directors and officers would pay $91.75m to settled a class action lawsuit filed against it in 2001 that alleged they had misled investors and sold Cisco shares on insider information.