THQ Resolves Arbitration Dispute With D&O Insurer

THQ, Inc. (Nasdaq: THQI) has announced the settlement of its arbitration dispute with National Union, the company’s directors’ and officers’ insurance carrier, over the coverage due for the settlement of a class action lawsuit filed against THQ in February 2000. According to the press release, “National Union had previously contributed $5.0 million to the class action settlement, but had disputed its obligation to pay the balance of $5.0 million under THQ’s total of $10.0 million in directors’ and officers’ insurance coverage.” As part of the settlement, THQ will receive a $4 million payment and “additional considerations” from National Union.

Leave a comment

Filed under Settlement

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s