Venezuelan Bank Settles Energy Co.'s $300M Defamation Suit

By Carolina Bolado (April 19, 2013, 3:39 PM EDT) -- Energy services firm Derwick Associates Corp. has settled its $300 million defamation suit in Florida state court accusing a prominent Venezuelan bank of engaging in a vicious Internet smear campaign designed to derail its business.

In an order filed April 11, Florida Circuit Judge John W. Thornton dismissed Derwick's suit against Venezolano de Credito SA Banco Universal with prejudice after the parties notified the court that they had settled all claims in the dispute.

Details of the settlement were not made public. An attorney for Derwick declined to comment on the deal, and an attorney for the defendants could not immediately...

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