Chanticleer
Holdings, focused on focused on expanding the Hooters® casual dining restaurant
brand in international emerging markets as well as other casual dining
ventures, reports that it has reached a cash settlement regarding the class
action suit of Francis Howard v. Chanticleer Holdings, Inc., Michael D. Pruitt,
Eric S. Lederer, Paul I Moskowitz, Keith Johnson, Mark Hezlett, and Creason
& Associates, P.L.L.C.
Chanticleer
today announced that it has filed, on behalf of all parties, a joint status
report stemming from a court-ordered mediation that took place December 10,
2013. As of December 18, 2013, all involved parties agreed in principal to a
class-wide settlement of $850,000, of which $837,500 will be paid by the
Chanticleer’s insurance carrier, XL Specialty Insurance Company; and $12,500 to
be contributed by Creason & Associates, PLLC.
Additional
material provisions are still being negotiated, and the settlement is subject
to negotiation and execution of definitive documentation and court approval.
“We
are pleased to have reached this agreement in principal and hope to negotiate
and finalize documents within the next sixty days,” Mike Pruitt, CEO and
president of Chanticleer stated in the news release.
The
filing was conducted through Chanticleer’s counsel, Stanley Wakshlag of Kenny
Nachwalter, P.A.
For
more information, visit www.chanticleerholdings.com
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