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Legal Proceedings
6 Months Ended
Jun. 30, 2022
Legal Proceedings  
Legal Proceedings

6. Legal Proceedings. In July 2019, the Company filed suit against News Corporation, News America Marketing FSI L.L.C., and News America Marketing In-Store Services L.L.C. (collectively, “News America”) in the U.S. District Court in Minnesota, alleging violations of federal and state antitrust and tort laws by News America.

 

Subsequent to the end of the quarter, on July 1, 2022, the Company entered into a $20 million settlement agreement with News America.  The agreement memorializes the amicable settlement of the Company’s outstanding lawsuit against News America.  The agreement is expected to result in net proceeds before income tax of between $11,500,000 and $12,000,000 for the Company, which will be recorded as pretax income in the quarter ending September 30, 2022.

The Company is subject to various legal matters in the normal course of business.