A settlement has been reached and is pending court approval in the securities class action lawsuit filed against FTD Inc., the flower and florist services provider. Under the terms of settlement, FTD will issue $10.7 million of shares of its class A common stock to the class action members, and take a related $11 million charge in its fiscal fourth quarter. The settlement also states that, "the company and the other defendants have denied, and continue to deny, that they have committed any violation of federal securities or other laws." (Aug-05-03) [NEWS RELEASE]
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FTD is attempting to collect from me membership fees that I was not aware I would be responsible for as I never signed a term contract with them acknowledging that I was aware of any such time based obligation.
