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Benzinga
Benzinga
Politics
Akanksha Bakshi

Yellow Agrees To Pay $6.8M To US DOD For Civil Litigation Settlement

YELL Yellow Department of Defense United States Yellow Corp
  • Yellow Corp (NASDAQ:YELL) reached an agreement with the U.S. government, settling 13-year-old civil litigation with the Department of Defense (DOD).
  • The company will make a cash payment of $6.8 million as part of the settlement agreement.
  • The civil litigation was related to credits for the reweigh of certain freight shipments between 2005 and 2013.
  • Yellow admitted no liability while denying the government's core allegations. The agreement will enable the company and its 30,000 freight professionals to remain centrally focused on transporting goods for more than 200,000 customers, including the Department of Defense.
  • Price Action: YELL shares are trading lower by 8.31% at $8.05 on the last check Thursday.
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