LAWSUITS NEWS & LEGAL INFORMATION
Company Sale
Parsippany, NJ: (Dec-19-07) Axium International, Inc. and its affiliate, Diversity MSP, Inc., brought a lawsuit against Computer Horizons Corp., alleging that the company and its Chimes subsidiary now known as Forgone, LLC, along with certain of their officers and directors, violated laws pertaining to the sale of the assets of Chimes to Diversity in February 2007. Sources close to the case stated that in a recent development, both parties agreed to reach a settlement, resolving pending litigation amongst them.
Under the terms of the settlement, the lawsuit has been discontinued with prejudice, the parties have exchanged releases and Computer Horizons has made a payment to Diversity of $175,000. Additionally, Computer Horizons announced that its Board of Directors has declared a liquidating distribution of $0.30 per share to its common shareholders. The distribution will be payable February 11, 2008 to shareholders of record as of the close of business on January 15, 2008. [CNN NEWS: COMPANY SALE]
Published on Dec-25-07
Under the terms of the settlement, the lawsuit has been discontinued with prejudice, the parties have exchanged releases and Computer Horizons has made a payment to Diversity of $175,000. Additionally, Computer Horizons announced that its Board of Directors has declared a liquidating distribution of $0.30 per share to its common shareholders. The distribution will be payable February 11, 2008 to shareholders of record as of the close of business on January 15, 2008. [
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