According to the docket, on October 21, 2004, the Court entered the Final Judgment of Dismissal with Prejudice. Plaintiffs’ Counsel was awarded attorney fees in the amount of $6,666,666 and reimbursement of expenses in the amount of $1,599,494.23 to be paid pursuant to the procedure set forth in the Stipulation. The case was closed. Earlier, on July 2, 2004, a Stipulation of settlement between the class representatives and certain Individual Defendants was filed. The Court entered U.S. District Judge Joseph F. Anderson Jr.’s preliminarily approved the settlement on July 12, 2004.

By the Notice of Settlement of Class Action, the proposed settlement creates an additional fund in the amount of $20,000,000 in cash (the “Settlement Amount”), plus interest. This settlement does not affect the prior settlement with PwC for $24,500,000.

The action alleges that Safety-Kleen and certain of its officers materially overstated the company's revenues and earnings. It further alleges that the company and its officers failed to reveal the true state of the company's deteriorating financial condition until March 6, 2000, when Safety-Kleen announced that it "has initiated an internal investigation of its prior reported financial results and certain of its accounting policies and practices following receipt by the Company's Board of Directors of information alleging possible accounting irregularities that may have affected the previously reported financial results of the Company since fiscal year 1998." Two days later, on March 8, 2000, Safety-Kleen's auditor stated that it had withdrawn its prior opinions on the company's financial statements for the fiscal years ended August 31, 1999, 1998, and 1997.

NOTE: Safety-Kleen filed for bankruptcy and is not a party to this Action.