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Luxottica Group, S.p.A. (LUX)
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LUX » Topics » Litigation Settlement

This excerpt taken from the LUX 20-F filed Jun 28, 2006.

Litigation Settlement

On August 31, 2005, we agreed with the plaintiffs in the previously disclosed action commenced in May 2001 (the “Action”) pending in the U.S. District Court for the Eastern District of New York relating to its acquisition of Sunglass Hut to a full and final settlement and release (the “Settlement”) of all claims made in the Action. In the Action, the plaintiffs’ principal claim was that certain payments made to the former Chairman of SGHI under a consulting, non-disclosure and non-competition agreement violated the “best price” rule under U.S. securities laws. The Settlement was approved by the Court, and final judgment has been entered dismissing the case with prejudice.

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