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FLIR Systems Settles Claims On Indigo Systems Acquisition

By Cal Biesecker

Monday, May 23rd, 2011

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FLIR Systems Inc. [FLIR] May 19 said it entered into a definitive agreement with William J. Parrish and E. Timothy Fitzgibbons (“Plaintiffs”) to settle claims filed in 2008 arising out of FLIR's acquisition of Indigo Systems Corporation in 2004, the plaintiffs' ensuing employment with FLIR, and litigation between the parties filed by FLIR in 2006. Under the terms of the settlement agreement, FLIR will make a cash settlement payment of $39 million to Parrish and Fitzgibbons for dismissal of…

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