Legg Mason Settles Copyright Suit With Financial Publisher

Law360, New York (June 10, 2005, 12:00 AM EDT) -- Legg Mason Inc. has agreed to settle a drawn-out civil copyright infringement lawsuit after a Maryland federal court ordered the financial services holding company to pay $20 million in damages to a Florida publisher of a financial newsletter.

As a result, Legg Mason said it will reverse about $8.2 million in related litigation award expenses that it previously recorded.

Legg Mason didn't provide details about its settlement in the filing with the Securities and Exchange Commission, but it said it reached the agreement before the Fourth...
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