LAWSUITS NEWS & LEGAL INFORMATION
Monster Worldwide Enters Preliminary Settlement for $47.5 million
This is a settlement for the Employment lawsuit.
Monster Worldwide, the parent company of Monster.com, the global online employment site, announced today that it has entered into a preliminary settlement for the class action it faces, of $47.5 million.
The Company's cost is anticipated to be approximately $25 million (net of insurance and contribution from another defendant). The parties expect to enter into a formal settlement agreement in the near future and to thereafter seek court approval.
Monster Worldwide also announced today that the New York State Supreme Court has issued an order granting preliminary approval of the settlement of the New York State and Federal court derivative lawsuits. A final hearing to approve the settlement is scheduled for October 2, 2008.
Published on Aug-1-08
The Company's cost is anticipated to be approximately $25 million (net of insurance and contribution from another defendant). The parties expect to enter into a formal settlement agreement in the near future and to thereafter seek court approval.
Monster Worldwide also announced today that the New York State Supreme Court has issued an order granting preliminary approval of the settlement of the New York State and Federal court derivative lawsuits. A final hearing to approve the settlement is scheduled for October 2, 2008.
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