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 Statists ripping-off business: Aristocrat forced to pay $226m in damages

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RR Phantom

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Statists ripping-off business: Aristocrat forced to pay $226m in damages Vide
PostSubject: Statists ripping-off business: Aristocrat forced to pay $226m in damages    Statists ripping-off business: Aristocrat forced to pay $226m in damages Icon_minitimeWed Sep 15, 2010 5:07 am
Aristocrat Leisure says it will pay $US212 million ($A225.86 million) in damages after a settlement was reached in litigation relating to convertible bonds in the US.

The company said on Wednesday a settlement agreement had been reached under which neither it nor the bondholders would appeal any aspect of the case, in exchange for a further reduction of the total damages payable by Aristocrat of approximately $US10 million ($A10.65 million).

The final damages payable by Aristocrat will be approximately $US212 million, and payment to the bondholders is underway, the company said.

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