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Article: Settlement Agreement Reached in InfoSpace Derivative Case, Section 16b Case, and Certain Related Cases Brought by the Jains.
- Article from:
- Business Wire
- Article date:
- December 23, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BELLEVUE, Wash. -- InfoSpace, Inc. (Nasdaq:INSP) today announced that a combined Settlement Agreement has been reached in the Dreiling v. Jain, et al. derivative lawsuit pending in King County Superior Court (Washington), the Dreiling v. Jain, et. al. Section 16(b) case pending on appeal before the United States Court of Appeals for the Ninth Circuit, and certain other lawsuits involving the Company. The Settlement Agreement, if approved, contemplates (among other consideration) a cash payment to the Company, net of plaintiff's counsel's fee and certain costs, of approximately $83 million, including insurance proceeds. The Settlement Agreement, if approved, also ...