This excerpt taken from the PMID 8-K filed Apr 7, 2008.
Item 1.01 Entry into a Material Definitive Agreement.
On April 1, 2008, Pyramid Breweries Inc. (the "Company") entered into a Memorandum of Understanding setting forth the principal terms of a settlement agreement between the Company and a former alehouse employee of the Company. The settlement, reached as a result of mediation, is on a class-wide basis as described below. The Company entered into mediation proceedings with the plaintiff on April 1, 2008. The lawsuit and the scheduled mediation had been previously disclosed by the Company, including in its 2007 Annual Report on Form 10-K.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.