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Industry: Email Alert RSS FeedHastings Entertainment - Retailer News - settles lawsuit - Brief Article
DSN Retailing Today, Oct 7, 2002
Hastings Entertainment last month agreed to pay $5.75 million to settle a shareholders lawsuit, stating the ongoing cost of litigation was proving to be a financial drain. The lawsuit filed by shareholders in 2000 alleged Hastings overstated profits and income for the first three quarters of fiscal 1999 and the four previous years.
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Hastings, a 143-store chain specializing in sales of music, books and video, maintained the lawsuit had no merit despite the settlement.
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COPYRIGHT 2002 Gale Group
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