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Yellow Corp. (NASDAQ: YELL), the former YRC Worldwide, has agreed to a settlement of $2.1 million an amount the company earlier had referred to as immaterial in an ongoing 2018 lawsuit on price overcharges brought by the Department of Defense.
The suit was brought by a group of investors, who already had lost in the district court. However, those investors were planning an appeal of that lower court decision, leading to settlement talks that resulted in a relatively small payout.
Plaintiffs in the case included the city of Warwick, New York, where pension funds were an investor in YRC (the name of the company at the time of the lawsuit and in the court documents), and several individuals. The suit was filed in the northern district court of New York back on the first business day of 2019.
New-yorkUnited-statesRenee-gaudetExpressSecurities-exchange-commissionDepartment-of-defenseYellow-corpNasdaqExchange-commissionBroadway-expressபுதியது-யார்க்ஒன்றுபட்டது-மாநிலங்களில்