Re(2): Parker Lawsuit? IP: 96.254.92.20 Posted on September 29, 2009 at 09:47:13 AM by Pat Lynch
Larry,
Part of your information is correct, but let me clear a few things up. The Board did vote to approval a partial mediated settlement of the interest in this case. That information is now posted on our website. The time-line for the resolution of the lawsuit, including final payment, is also listed. As you will see on the time-line, there are many steps that have to be accomplished, even if both sides are in agreement for all remaining issues. This is just part of the class-action process.
The Board also voted to have the attorneys look into offering a settlement to the 243 people who opted out of the lawsuit, and if deemed appropriate, offer a settlement contingent upon signing an appropriate release. There are various issues that the attorneys will have to address before any offer can be made. They will hopefully report their findings at the October meeting so we should know more then. There was no time-line discussed for when any offer to the opt-outs would be made or when any payment would be made.