Attached files
| file | filename |
|---|---|
| 8-K - EDCI MICHAEL W. KLINGER SETTLEMENT AGREEMENT DATED 12/16/09 - EDCI HOLDINGS, INC. | klingersettlement121709.htm |
| EX-99.1 - EDCI - MICHAEL W. KLINGER SETTLEMENT AGREEMENT AND GENERAL MUTUAL RELEASE DATED 12/16/09 - EDCI HOLDINGS, INC. | klingeragreement121609.htm |
EXHIBIT
99.2
EDCI
Holdings, Inc. Announcing Settlement Agreement and General Mutual Release with
Michael W. Klinger
NEW YORK,
Tuesday, December 17, 2009 /PRNewswire / -- EDCI Holdings, Inc. (Nasdaq: EDCI)
("the Company"), today announced to its shareholders an update and ultimate
resolution in regards to the litigation between Mr. Michael W. Klinger’s (“Mr.
Klinger”), EDCI, Entertainment Distribution Company, Inc., Entertainment
Distribution Company, LLC and Entertainment Distribution Company (USA) LLC (the
“EDC Companies”), and Mr. Robert L. Chapman, Jr (“Mr.
Chapman”)
Following
Mr. Klinger’s separation from employment on April 13, 2009, Mr. Klinger, the EDC
Companies, and Mr. Chapman. have been engaged in litigation. The Board of
Directors, Mr. Chapman, and Mr. Klinger have reached a settlement of all legal
disputes existing between them. As a result, the EDC Companies have
withdrawn their notice of termination for cause, retroactive to April 13, 2009,
and Mr. Klinger has withdrawn his notice of resignation for good reason.
The EDC companies have accepted Mr. Klinger's voluntary resignation
effective December 17, 2009.
About
EDCI Holdings, Inc.
EDCI
Holdings, Inc. (Nasdaq: EDCI) is a multi-national company, headquartered in New
York, that is seeking to enhance shareholder value by pursuing acquisition
opportunities. EDCI is the holding company of Entertainment Distribution
Company, Inc., which is the majority shareholder of Entertainment Distribution
Company, LLC ("EDC"), a European provider of supply chain services to the
optical disc market. EDC serves every aspect of the manufacturing and
distribution process and is one of the largest providers in the industry. EDC’s
clients include some of the world's best-known music, movies and gaming
companies. EDC’s operations include manufacturing and distribution facilities in
Hannover, Germany, and a manufacturing facility in Blackburn, UK. For more
information, please visit www.edcih.com.
Source:
EDCI Holdings, Inc.
CONTACT:
Matthew K. Behrent (646) 201-9549
Web site:
www.edcih.com