Pro-Dex (PDEX) Announces $250K Payment to Settle Litigation With Orange County Water District
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Pro-Dex, Inc. (NasdaqCM: PDEX) entered into a settlement agreement with the Orange County Water District ("OCWD") ending the litigation between the two entities and removing Pro-Dex as a defendant in the lawsuit Orange County Water District v. Sabic Innovative Plastics US, LLC, et al.
Under the terms of the settlement agreement, the parties agreed to the following: (i) Pro-Dex shall pay to OCWD a total lump sum of $250,000; (ii) the complaint filed by OCWD against Pro-Dex will be dismissed, with prejudice; and (iii) OCWD shall release and discharge Pro-Dex and certain related parties of any and all claims related to the litigation and of any other claims that are connected with any contamination of groundwater or any other aspect of the environment in the area that is the subject of the of the litigation that has been caused by contaminants released at or are migrating from Pro-Dex's former site in Santa Ana, California.
Under the terms of the settlement agreement, the parties agreed to the following: (i) Pro-Dex shall pay to OCWD a total lump sum of $250,000; (ii) the complaint filed by OCWD against Pro-Dex will be dismissed, with prejudice; and (iii) OCWD shall release and discharge Pro-Dex and certain related parties of any and all claims related to the litigation and of any other claims that are connected with any contamination of groundwater or any other aspect of the environment in the area that is the subject of the of the litigation that has been caused by contaminants released at or are migrating from Pro-Dex's former site in Santa Ana, California.
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