Environmental Services Industry News SampleDec 16, 2005 03:57:34
ECOLOGY AND ENVIRONMENT: Subsidiary Sued for Breach of Contract
BOULDER, Colorado (SunStream News) -- Ecology and Environment, Inc.'s majority owned subsidiary, Walsh Environmental Scientists & Engineers, LLC, has been named defendant in a case filed October 28, 2005 by several plaintiffs with the District Court of Boulder, Colorado.
Ecology and Environment is not named defendant.
The plaintiffs' allegations include negligence, breach of contract and trespass for unspecified damages against the defendants resulting from a forest fire that ignited from a fallen power line during a wind storm that took place October 2003 in Boulder, Colorado, according to the company's latest Form 10-Q.
Walsh's legal counsel has received other communication from the plaintiffs' attorneys, which indicates that plaintiffs may be seeking damages, in the aggregate, in excess of $17,000,000.
The company's liability insurance extends to its subsidiaries; however, Walsh believes the claims asserted against it are without merit and intends to vigorously defend this lawsuit.
The company is involved in other litigation arising in the normal course of business. In the opinion of management, any adverse outcome to other litigation arising in the normal course of business would not have a material impact on the financial results of the company.
Ecology and Environment, Inc. provides environmental consulting and testing services. The company's services include environmental audits and surveys, air quality management, environmental engineering, noise evaluation, wastewater analysis, and pollution control. As of October 29, 2005, the company has $59,169,652 in total assets and $59,169,652 in total liabilities.
Ecology And Environment, Inc.
368 Pleasant View Drive
Lancaster, New York 14086-1397
(716) 684-8060
ss/edward
Source: General Corporate Litigation Updates
Publication Date: 2005-12-16
COY: EEI
IND: ENV
GEO: n-us-co
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