Engineering Co. PSI Settles Construction Malfeasance Suit

Law360, New York (November 16, 2011, 4:32 PM EST) -- Texas-based Cypress/Spanish Fort I LP's breach of contract and negligence lawsuit for more than $22 million against engineering firm Professional Services Industries Inc. over alleged mismanagement of a development project was thrown out Tuesday after the parties reached an undisclosed settlement.

U.S. District Judge Jane Boyle dismissed the suit with prejudice in light of the parties' indication that they had settled the matter sometime in October, before it went to mediation, according to court documents.

No details of the settlement were revealed.

The suit was removed...
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