Wabash National Corp. will pay $500,000 to settle a suit brought by some of its shareholders.
The company continues to deny charges of misrepresentation brought by certain purchasers of stock in the company's 1998 public offering, but has agreed to put $500,000 into a fund from which stock purchasers who satisfy certain criteria will be entitled to recovery. Unclaimed monies, after attorney's fees and expenses, will be returned to Wabash.
"Fortunately," said Chairman, President and CEO Donald Ehrlich, "We can now say that this distraction has been put behind us so that we can move on."
The company continues to deny charges of misrepresentation brought by certain purchasers of stock in the company's 1998 public offering, but has agreed to put $500,000 into a fund from which stock purchasers who satisfy certain criteria will be entitled to recovery. Unclaimed monies, after attorney's fees and expenses, will be returned to Wabash.
"Fortunately," said Chairman, President and CEO Donald Ehrlich, "We can now say that this distraction has been put behind us so that we can move on."
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