This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ATC Venture Group Inc. Settles Lawsuit Against Kolpin Outdoors, Inc. And Its Owners, FCF Partners LP.

ATC Venture Group Inc. (AMEX:ATC) announced that the Company has settled its lawsuit against Kolpin Outdoors, Inc. of Fox Lake, WI and its owners, FCF Partners LP of Milwaukee, WI, the purchaser of its Cycle Country Accessories product line.

The Company filed suit in U.S. District Court to enforce its agreement with Kolpin Outdoors and FCF Partners after Kolpin failed to make payments to the Company under the Asset Purchase Agreement between the Company and Kolpin Outdoors, Inc., and FCF Partners refused to pay on its limited guaranty of those payments.

On September 13, 2012, the Company, Kolpin Outdoors and FCF Partners reached a settlement agreement, in principle, which provided for a substantial payment to the Company as part of the settlement and the restructuring of the deferred purchase price to terms the Company believes provide a more favorable royalty and payment structure than previously provided in the Purchase Agreement. Further, as part of the settlement, FCF Partners agreed to fully guarantee Kolpin’s performance and payment of all amounts owed to the Company under the settlement agreement.

Effective October 26, 2012, Chief Magistrate Judge Boylan of the United States District Court for the State of Minnesota resolved certain disagreements between the parties concerning a written settlement agreement and ordered that the settlement that the parties had agreed to in Court on September 13, 2012 is binding and fully enforceable as provided in the written settlement agreement attached to the Court’s order.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs