Print and fulfillment provider Mail-Well will pay a settlement to an ex-employee who sued the company over the termination of his employment, Mail-Well said yesterday.
The sum of the settlement was not disclosed. On Feb. 20, a jury awarded the employee $5.3 million in the case, but the two parties agreed to an outside settlement to avoid further litigation on appeal.
Mail-Well, Englewood, CO, said it still denied the employee's claims, which it did not disclose, and thought the jury decision was inappropriate, but felt it was in the best interest of shareholders to avoid further costs stemming from the suit. The company will take a $3.2 million charge in its fourth-quarter 2003 financial report as a result of the costs of the settlement and litigation.
