Dewey retirees reach settlement with former firm

February 12, 2013 A group of 125 Dewey retirees has agreed to settle claims made by the defunct firm, agreeing to pay the Dewey estate $5000 or 25 per cent of payments received from Dewey during 2011-12, whichever is lower. The retirees will also reimburse Dewey 60 per cent of any tax advances made by Dewey during the same periods.

Under the deal the Dewey estate will provide a release of future claims against those who settle, and the retirees have agreed to allow the Dewey estate to take over their claims against former colleagues including former Chairman Steven Davis, former executive director Stephen DiCarmine and chief financial officer Joel Sanders.

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