Naturade, Inc. Of Delaware Files SEC FORM 8K
WASHINGTON, DC, Jul. 12, 1999 (States via COMTEX) -- ITEM 5: As reported previously, a civil judgment in the amount of$2,744,000 was entered in March, 1999 against Naturade, Inc. by the United States Bankruptcy Court for the Northern District of Texas following a bench trial in a proceeding styled Jeffrey H. Mims, Chapter 7 Trustee v. Kennedy Capital, et al. The proceeding arose out of the bankruptcy case of Performance Nutrition, Inc., on whose behalf the Trustee was acting. Naturade and the PNI Trustee have entered into a settlement agreement, which is subject to approval by the Bankruptcy Court. The Bankruptcy Court has scheduled a hearing on the PNI Trustee's application to approve the settlement agreement for August 5, 1999.
Things should begin to happen now that settlement is finalized.
Bird
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