FirstCity Financial Receives Lawsuit Proceeds Of $6.1 Million
December 23, 2009 (FinancialWire) — FirstCity Financial Corp. (NASDAQ: FCFC) said final settlement has been obtained and settlement proceeds of approximately $6.1 million have been received by the company.
pursuant to the Agreement and Stipulation of Settlement described in its release dated September 30, 2009 (reprinted below) and in a form 8-K filed with the SEC on September 30, 2009 (available on the company’s website at http://www.fcfc.com/secfilings.htm).
The final settlement resolves certain claims in the pending lawsuit related to the ownership of demutualization proceeds from the sale of Prudential stock and dividends interpled by Prudential Financial, Inc.
Details of the lawsuit and settlement are more fully described in a form 8-K filed with the SEC and is available on the company’s website at www.fcfc.com.
FirstCity Financial Corp. is a diversified financial services company with operations dedicated primarily to portfolio asset acquisition and resolution with offices in the U.S. and with affiliate organizations in Europe and Latin America.
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