Authentidate Holding (ADAT) announced that on December 23, 2010, it entered into a settlement agreement providing for the resolution and dismissal, with prejudice, of the purported shareholder class action entitled In re Authentidate Holding Corp. Securities Litigation. The settlement, which is subject to approval by the Court, provides for a $1.9 million payment to be made by the company’s insurance carrier, does not contain or reflect any admission of liability by any defendants and provides an end to continued costly and time-consuming litigation by all parties.
Share action: down 2 percent, to $0.49 in afternoon trading Monday.
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