ClearOne Reports Favorable Results in Lawsuit Appeal

clearonenew-0510ClearOne told rAVe today about an important victory in the Utah Supreme Court in a dispute relating to the company’s indemnification of a former officer for costs associated with her criminal defense. As a result of this ruling, which cannot be appealed, ClearOne expects to recoup approximately $500,000 in attorneys’ fees previously paid to indemnify the company’s former CFO.

“We are pleased that this ruling will result in a significant net financial benefit for ClearOne,” said Chairman and CEO Zee Hakimoglu. “I want to thank our current management team and Board of Directors for remaining focused on successfully growing the company while we resolved these legacy matters that transpired nearly ten years ago.”

ClearOne is here: http://www.clearone.com/