Settlement Reached in Lawsuit Between Pomeroy IT Solutions, Inc. and Former CEO Stephen E. Pomeroy
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Pomeroy IT Solutions, Inc. (NASDAQ: PMRY) announced today that a
settlement has been reached in the contract dispute between Pomeroy IT
Solutions, Inc. and its former President/CEO, Stephen E. Pomeroy. In
August, 2007, Mr. Pomeroy filed suit in the Boone County Circuit Court
claiming that the company had breached his Employment Contract when he
was terminated on July 3, 2007. Mr. Pomeroy also asserted claims against
certain directors and officers of the company, as well as one of the
company's shareholders, Flagg Street Capital, LLC. Rather than engaging
in protracted litigation, the parties agreed to mediate the dispute and,
through that process, were able to reach a global settlement. While the
terms of the settlement are confidential, all parties expressed
satisfaction with the result and expressly wished each other well in
their future endeavors.
About Pomeroy IT Solutions, Inc.
Pomeroy IT Solutions, Inc. is a leading provider of IT infrastructure
solutions focused on enterprise, network and end-user technologies.
Leveraging its core competencies in IT Outsourcing and Professional
Services, Pomeroy delivers consulting, deployment, operational, staffing
and product sourcing solutions through the disciplines of Six-Sigma,
program and project management, and industry best practices. Pomeroy's
consultative approach and adaptive methodology enables Fortune 2000
corporations, government entities, and mid-market clients to realize
their business goals and objectives by leveraging information technology
to simplify complexities, increase productivity, reduce costs, and
improve profitability. For more information, go to www.pomeroy.com.
