Reader's Digest Parent Reaches $5M Settlement With Mosaic

Law360, New York (July 18, 2013, 5:33 PM EDT) -- Reader's Digest Association Inc.'s parent told a New York bankruptcy court Tuesday that it had reached a $5 million settlement with Mosaic Media Investment Partners LLC, potentially resolving more than $31 million in claims over allegedly deceptive marketing and a related $27 million Federal Trade Commission settlement.

The agreement is the latest step for RDA Holdings Co. as it moves toward reorganizing Reader's Digest and filing a separate Chapter 11 plan for another subsidiary, Direct Entertainment Media Group Inc. Tuesday's deal would grant Mosaic a $3...
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