Xethanol Announces Final Approval of Settlement Agreement of Class Action Lawsuits
08 Oktober 2008 - 10:05PM
Business Wire
Xethanol Corporation (AMEX: XNL), a renewable energy company,
announces that on October 6, 2008, the United States District Court
for the Southern District of New York approved the settlement
agreement negotiated between Xethanol and a class of plaintiff
shareholders who had sued the company on October 24, 2006. The
Final Approval Order also dismisses the action, which is now
concluded. The settlement agreement was reached on November 28,
2007 during a mediation overseen by a retired United States
District Court Judge in West Palm Beach, Florida, and attended by
counsel for plaintiffs, counsel for the company and the individual
defendants and counsel for the company�s insurance carriers. David
Ames, President and CEO of Xethanol stated, �We are very pleased
that the court has approved the settlement and that this matter is
now behind us.� About Xethanol Corporation Xethanol Corporation is
a renewable energy company focused on alternate energy products and
technologies as well as producing ethanol and other co-products.
For more information about Xethanol, please visit its website at
http://www.xethanol.com.
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