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LEGAL PROCEEDINGS
6 Months Ended
Jun. 29, 2013
LEGAL PROCEEDINGS  
LEGAL PROCEEDINGS

NOTE 15                  LEGAL PROCEEDINGS

 

In November 2010, two former employees of Spectra-Physics, Linda Pope and Yvette Flores, together with their children, Tia Pope Hudson and Mark Flores, filed a complaint against Spectra-Physics and the Company in the Superior Court for Santa Clara County, California.  Plaintiffs alleged that between 1975 and 1985 they were harmed by exposure to toxic substances at Spectra-Physics, and that Spectra-Physics failed to warn them about dangers associated with the substances and failed to implement adequate safeguards to protect them from the substances.

 

In November 2012, the Company reached an agreement with Linda Pope and Tia Pope Hudson to settle all claims related to their portion of the suit. In June 2013, the court granted the Company’s motion for summary judgment of Yvette Flores’ claims on the grounds that they were barred by the exclusivity of the State of California’s workers’ compensation system.  In July 2013, the Company reached an agreement with Mark Flores to settle his claims, which were then the only claims remaining in the suit.  Such settlement amounts will be paid from coverage by applicable insurance policies, and as such will not have any net impact on the Company’s income, cash flows or stockholders’ equity.