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Interactive Data Reveals Filing Of Previously Disclosed Settlement With Heartland Shareholders - Update

(RealTimeTraders.com) - Friday after the bell, Interactive Data Corp. (IDC) revealed that it has filed the details of its settlement with shareholders of two Heartland Funds Group mutual funds with the United States District Court for the Eastern District of Wisconsin.

The Bedford, Massachusetts-based Interactive Data said that the overall settlement terms would require the Company to pay $1 million to shareholders of the two Heartland high-yield funds.

The company noted that the amount of the settlement is expected to be fully covered by insurance.

Stuart Clark, Interactive Data President and CEO, stated, “We negotiated this settlement in order to avoid the distraction of potentially protracted litigation that we regarded as being without foundation.”

Shares of IDC closed Friday’s regular trading session at $17.57

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