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Headwater Says Prior Verdicts Confirmed By Trial Judge In Boynton Litigation

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4/15/2011 6:20 AM ET

Construction materials company Headwaters Inc. (HW: Quote) Friday reported a trial judgement by the Federal District Court for the Western District of Tennessee that confirmed the previous verdicts in the case Boynton v. Headwaters.

The case, ongoing since 2000, had seen verdicts that awarded $8.7 million in 2009 to eight members of the class of former Adtech Inc. stockholders, and $7.3 million in 2010 to 46 plaintiffs who had not participated in the previous trial.

Headwaters' Chief Financial Officer Don Newman said that the judgement had "substantially eliminated uncertainty related to the final trial judgement" and added that the company would "soon be in a position to appeal the final judgement".

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by RTT Staff Writer

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