LAWSUITS NEWS & LEGAL INFORMATION
Business Ethics
This is a settlement for the Commercial lawsuit.
Hamden, CT: (Oct-19-07) A class action lawsuit was filed against Host America Corp. and some of its past and present directors and officers, alleging that the defendants acted in an unlawful manner, violating business ethics. As part of a settlement reached, the suit that was being considered in the US District Court for the District of Connecticut was resolved.
Under the terms of the deal, the company provides for the dismissal of all claims against the Host America's defendants with prejudice. In exchange, Host America has agreed to pay the Class $2,450,000, of which $1,700,000 will be funded by the defendants' insurer. The company and the other Host America defendants have consistently maintained that the claims raised in the class action and derivative litigation are without merit, and have vigorously contested those claims. As part of the settlement, the Host America defendants continue to deny any liability or wrongdoing. [BUSINESS WIRE: BUSINESS ETHICS]
Published on Oct-22-07
Under the terms of the deal, the company provides for the dismissal of all claims against the Host America's defendants with prejudice. In exchange, Host America has agreed to pay the Class $2,450,000, of which $1,700,000 will be funded by the defendants' insurer. The company and the other Host America defendants have consistently maintained that the claims raised in the class action and derivative litigation are without merit, and have vigorously contested those claims. As part of the settlement, the Host America defendants continue to deny any liability or wrongdoing. [BUSINESS WIRE: BUSINESS ETHICS]
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