With regard to the remaining four lawsuits, the company believes legal and factual defenses to these lawsuits are strong, and will continue to vigorously defend the company against these claims. While an amount cannot be estimated at this time, management does not believe that the outcome of the remaining lawsuits will have a material adverse effect on our consolidated financial position or results of operations.
One of the company’s insurers has reserved the right to pursue payment from the company for up to $7.9 million paid by the insurer along with any additional judgments, settlements and defense costs that may be expended with regard to the four lawsuits that are still pending. The company believes that it have strong defenses against any such claim. No provision has been made for these pending cases, settlements or any claim by our insurer as of the date of this report.
