Seaton Insurance Company
Seaton Announces Settlement
Seaton Insurance Company 13.05.2011 00:56 --------------------------------------------------------------------------- WARWICK, R.I., 2011-05-13 00:56 CEST (GLOBE NEWSWIRE) -- Seaton Insurance Company announced today that it had accepted an offer from R&Q USA, Inc. and Kenneth Randall (collectively, 'Randall') to settle the parties' lawsuit pending in the High Court in London. In the action, Seaton made a counterclaim in fraud against Randall. The case was fully pleaded, and the parties had recently given disclosure. Seaton was committed to pursuing the matter to trial. However, Seaton had no alternative but to accept an early settlement of the litigation as a result of the sudden severe ill health of key witness Fred Eckert of Dukes Place. Seaton was informed that there is no prospect of Mr. Eckert being a witness. CONTACT: Karl Wall President & Chief Operating Officer Seaton Insurance Company 475 Kilvert Street, Suite 330 Warwick, RI 02886, USA Telephone: +1 401 453 7000 Fax: +1 401 453 7354 News Source: NASDAQ OMX 13.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Seaton Insurance Company US Phone: Fax: E-mail: Internet: ISIN: US9901554595 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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