Chiquita Terrorist Payout Settlement Gets Court OK

Law360, New York (August 5, 2010, 6:42 PM EDT) -- A federal judge on Thursday granted preliminary approval to a settlement in as part of a shareholder derivative action against Chiquita Brands International Inc. that imposes strict corporate governance changes on the company in the wake of payments to Colombian terrorist groups.

Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida also set an Oct. 15 date for the settlement hearing.

The derivative suits, filed against Chiquita's executives and directors, including Chairman and CEO Fernando Aguirre, accuse the company of...
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