Volatile Oclaro (OCLR +12.3%) is higher after announcing: 1) It has received preliminary court...

|By:, SA News Editor

Volatile Oclaro (OCLR +12.3%) is higher after announcing: 1) It has received preliminary court approval for the settlement of 4 class-action suits related to the Opnext merger. 2) Priced its $25M offering of 2018 convertible notes. The notes yield 7.5% and carry a conversion price of $1.846/share - following today's move, Oclaro trades at $1.60.