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Mr. Hurd had been encouraged by the directors to settle the claims for weeks, the person said.
The TXU Corporation, a Dallas power producer, has agreed to pay $150 million and replace two directors to settle shareholder lawsuits filed after the company's shares plunged and dividends were cut sharply more than two years ago.
The LNC was by this time in serious financial difficulties, and dependent on loans from its own directors to settle outstanding debts.
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Ex-WorldCom Directors Agree to Settle Lawsuits Ten former directors of WorldCom have agreed to pay $18 million of their own money to settle a lawsuit by investors who lost money when the company collapsed in July 2002.
Should the directors try to settle with Mr. Grasso, Mr. Reed said he would serve as the negotiator.
Since location shooting was out of the question (Mr. Rubinstein clocked 45-mile-an-hour winds when he was scouting desert locations in Tunisia and Namibia), producer and director agreed to settle in for four months at the Barrandov Studios in Prague -- and to hire production wizards who could turn Europe's largest sound stages into a world beyond this world.
"Given recent events, the FPF directors decided unanimously to settle Carlos Queiroz's contract with immediate effect," said the FPF president, Gilberto Madail.
8 Duration in minutes of the celebrated tracking shot that opens his 1992 classic, The Player 66 Big-name actors with cameo roles as themselves in The Player, including Julia Roberts, Bruce Willis and Cher. 5 Oscar nominations for Best Director, but Altman had to settle for the Academy's Lifetime Achievement award earlier this year.
Enron directors also paid roughly $13 million to settle shareholders' claims.
Enron directors and WorldCom directors have been forced to pay, personally, to settle such lawsuits.
After the guilty plea from its executive director, the New Hampshire Republican Party paid to settle a civil lawsuit filed by the state's Democrats.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com