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| 2000
News and Press Releases |
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SETTLEMENT ARCHIVED:
Navigant settled for $23 million
P.R. Newswire. October 26, 2000
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Excerpt: "..As previously disclosed in August 2000, the Company settled for $23
million the 21 consolidated securities law class actions then pending before
Judge Castillo in the Northern District of Illinois (the "consolidated class
actions"), subject to court approval and certain other conditions. The court is
expected to rule on the fairness and approval of such settlement in the first
quarter of 2001. In connection with the settlement agreement, the Company has
contributed $16.5 million into escrow pending final court approval, and one of its
insurers has contributed $6.5 million under an agreement reached with the
company which is also subject to certain conditions. The company expects to
receive from this insurer an additional %.5 million as reimbursement for certain
attorneys' fees. The company is seeking to recover additional funds under a
policy issued by a second insurer, and it has agreed to share any such recovery
with the class on a 50/50 basis..."
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