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Medical Resources to settle suits

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Imaging services provider Medical Resources of Hackensack, NJ, took a step toward cleaning out its corporate closet by reaching an agreement in principle to settle a group of class-action lawsuits. The suits were filed in late 1997, after the company was

Imaging services provider Medical Resources of Hackensack, NJ, took a step toward cleaning out its corporate closet by reaching an agreement in principle to settle a group of class-action lawsuits. The suits were filed in late 1997, after the company was rocked by allegations over advisory fees paid to then-chairman Gary Siegler (SCAN 12/17/97). Under the terms of the settlement, the plaintiffs in the suits will receive $2.75 million in insurance proceeds and $5.25 million in corporate notes. The agreement is expected to be approved by March.

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