BADGER SETTLES OKLAHOMA LAWSUIT
Calgary, Alberta – Badger Daylighting Ltd. announces that it has settled the legal action with a former franchisee against a subsidiary of Badger in Creek County, Oklahoma by agreeing to pay the former franchisee USD $7.5 million. In June 2015 a jury decision entered a verdict of approximately USD $13.7 million in favor of the former franchisee and his franchise against the subsidiary of Badger. Badger accrued a total of USD $17.5 million in the second quarter of 2015 to reflect the jury award plus an estimate of legal costs and interest in connection to this matter.
Badger is North America’s largest provider of non-destructive excavating services. Badger traditionally works for contractors and facility owners in the utility and petroleum industries. Our key technology is the Badger Hydrovac, which is used primarily for safe digging in congested grounds and challenging conditions. The Badger Hydrovac uses a pressurized water stream to liquefy the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. Badger manufactures its truck-mounted hydrovac units.
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For more information regarding this Press Release, please contact:
President and CEO
1000, 635 – 8th Avenue SW
Calgary, Alberta T2P 3M3
Vice President Finance and CFO
Phone (403) 264-8500
Fax (403) 228-9773