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Aristotle Settles Litigation with FDIC and Shareholders

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From: PR Newswire
Date: 19960814
Author:

NEW HAVEN, Conn., Aug. 14 /PRNewswire/ -- The Aristotle Corporation (Nasdaq: ARTL) announced today that it has signed a settlement agreement with the FDIC under which the Company will retain rights to $2 million of a disputed tax refund of $4 million and will relinquish any claim to an additional $1.7 million in tax refunds. After provision for costs incurred in reaching the settlement, the Company expects to recognize a gain of approximately $1.65 million ($1.45 per share) in the fiscal year ended June 30, 1996. The Company anticipates closing the settlement shortly.

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