IPG Moves to Settle Shareholder Suit

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NEW YORK Interpublic Group has agreed to settle a federal lawsuit in New York that accused the company of misleading investors about a $181.3 million accounting imbalance that surfaced last year. IPG also is close to resolving a state suit in Chicago that’s related to the same discrepancy.

The cost of settling both actions is estimated at $115 million, the bulk of which ($95 million) will be paid in stock, IPG said.

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