Horne International Settles Lawsuit with Federal Government over Plum Island Dispute.FAIRFAX, Va. -- Horne International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :HNIN) today announced that it has settled its lawsuit against the federal government seeking payment for extra work undertaken by Horne Engineering Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , while under contract at the Plum Island Animal Disease Center The Plum Island Animal Disease Center (PIADC) is a United States federal research facility dedicated to the study of foreign animal diseases. Since 1954, the center has been protecting America's livestock from foreign animal diseases. in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Horne Engineering, LLC, is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Horne International, Inc. Under the settlement agreement, the federal government will pay Horne Engineering an additional $400,000 as compensation for claims for additional quantities and changing conditions experienced in 2002 on a project to create wetlands on the site of two wastewater treatment lagoons. Horne Engineering originally filed its complaint against the U.S. Department of Agriculture in August 2006, and subsequently re-filed the suit with the Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States after responsibility for the project changed as the result of a government reorganization. The settlement was reached as the trial date approached before the Department of Transportation Board of Contract Appeals. "This is a win-win situation for Horne Engineering and the federal government," said Darryl K. Horne, Chairman, President and Chief Executive Officer of Horne International. "We were able to reach a satisfactory monetary settlement while avoiding the inevitable delays and costs associated with a lengthy trial." The company expects it will receive payment from the federal government in July 2007. About Horne International, Inc. Horne International (OTCBB: HNIN) delivers uniquely engineered solutions that advance some of today's foremost agendas -- winning the war on terrorism Terrorist acts and the threat of Terrorism have occupied the various law enforcement agencies in the U.S. government for many years. The Anti-Terrorism and Effective Death Penalty Act of 1996, as amended by the usa patriot act , strengthening national security, and fostering environmental sustainability. Service areas include program engineering; technology; manufacturing; maritime and industrial repair; environment, safety, and health; acquisition services; public outreach; and business process engineering. More information can be found at www.horne.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion