NCS Multistage Holdings Announced That Our Subsidiary Has Settled Outstanding Litigation With Boyd & McWilliams; The Insurance Carrier Will Pay All Agreed-Upon Settlement Amounts To The Plaintiff, Resulting In No Cash Payments By NCS

Author: Benzinga Newsdesk | December 14, 2023 05:07pm

As of September 30, 2023, we had accrued a provision for litigation of $40.8 million associated with this matter. We expect to fully offset this provision during the fourth quarter of 2023 with a benefit from the settlement. In addition, we do not currently have any outstanding litigation related to property damage claims, as we previously settled the litigation in Wyoming in August 2023, with such settlement also fully paid by the insurance carrier.

Posted In: NCSM