Atlas Mining Co. Settles Class Action Lawsuit

July 13, 2009

A northern Idaho mining company has settled a class action lawsuit by agreeing to pay $1.25 million.

Atlas Mining Co., based in Kellogg, Idaho, announced it had settled with shareholders who claimed the company artificially inflated stock prices through false financial statements.

Atlas also said it settled related lawsuits with Navigators Insurance, RSUI Indemnity Co., RSUI Group and Alexander, Morford & Woo Inc.

The agreement requires Navigators to cover the entire $1.25 million settlement plus $750,000 for Atlas’ defense and investigative costs.

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