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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.
COPYRIGHT 2002 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2002 Gale Group
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