Innovative Construction Services

Meadow Valley Corp. filed a lawsuit against its former subcontractor. Innovative Construction Services has agreed to pay Meadow valley a $2.2 million cash settlement. The construction company also agreed to dismiss its claims against Meadow Valley without receiving any payment. The settlement allows Meadow Valley to retain about $2.1 million from its settlement with Clark County, Nevada, related to a construction project completed in 2000 and $100,000 from additional funds placed in escrow pending resolution of this arbitration. (Aug-07-06) [PHOENIX BUSINESS JOURNAL]

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