STORY TOOLS

Navarre settles class action lawsuit

RELATED ARTICLES

• Smaller suppliers wrestle with high-def
  
• Friday Night Lights price halved to appeal to new audience
  
• First Look promos high-profile slate
  
• Warner executives head new Summit home entertainment unit
  
• Rubin joins Sony to head business affairs
  

• Talkback
• Blogs
• Photos

We would love your feedback!

Post a comment

» VIEW ALL TALKBACK THREADS

DISC DISH
Samantha Clark, Managing editor and online editor, Video Business
October 9, 2007
New Adventures of Old Christine DVD
Julia Louis-Dreyfus' return to sitcom-ville is coming to DVD on Jan. 15 (prebook Dec. 11). Warner will de...
More

DISC DISH
Samantha Clark, Managing editor and online editor, Video Business
October 8, 2007
Superbad DVD, Blu-ray, PSP
Sony has set $118 million-grossing Superbad, from the same filmmakers behind DV...
More

DISC DISH
Samantha Clark, Managing editor and online editor, Video Business
September 28, 2007
Underdog DVD, Blu-ray
Disney will fly out Underdog on Dec. 18, the same day Fox will deliver More

DISC DISH
Samantha Clark, Managing editor and online editor, Video Business
September 24, 2007
Sicko DVD
...
More

Run Granny Run Screening
Arts Alliance America recently held a screening of Run Granny Run with film star Doris “Granny D” Haddock in Keen, N.H.

Riding the Surf
Sony and Reef Check celebrated the DVD release of Surf’s Up at Malibu Bluffs Park in Malibu, Calif., on Oct. 6.

A Fantastic surfing event
Fox celebrated the DVD release of Fantastic Four: Rise of the Silver Surfer on Oct. 2 with a “Surfing in New York” event in New York.

» VIEW ALL GALLERIES
» VIEW FEATURED GALLERY

Advertisement

ALSO BY THIS AUTHOR...

• Samsung releases Blu-ray firmware ugrade for BD+
• High-def adoption 'will roll', albeit slowly, say panelists
• Warner puts downloadable files on Harry Potter DVD
• Toshiba says HD DVD set-top players are back in front
• $399 PlayStation 3 due in November
• » MORE

Company denies liability but wishes to avoid distraction of litigation

By Susanne Ault -- Video Business, 7/9/2007

JULY 9 | Navarre Corp. has agreed to settle a pending securities class action suit filed against it and some of its former executives. The distributor’s proposed settlement is subject to certain conditions, including approval by the U.S. District Court for the District of Minnesota.

Under the settlement terms, a fund will be created to pay class action members’ claims and plaintiffs’ attorney fees. Navarre’s insurance company will be paying into this fund, and there will be no contribution from the distributor itself. There should be no impact of this payout on Navarre earnings going forward.

Although settlement terms have been agreed upon, Navarre continues to deny any liability.

“We have agreed to settle this lawsuit so that we may put this matter behind us and continue to focus Navarre’s energies and resources on the continued accomplishment of its business objectives,” said Ryan Urness, Navarre general counsel. “We have fought these allegations for over two years, and we were fully prepared to take this matter to trial on the merits. Although we believe we would have prevailed, this settlement provides the company with a sensible opportunity to avoid the significant distraction that could otherwise result from this litigation.”

» SUBMIT FEEDBACK

There are no comments posted for this article.

SPONSORED LINKS