SIMMONS, JANNACE & STAGG, LLP SECURES MULTI-MILLION DOLLAR SETTLEMENT FOR FORTUNE 100 CLIENT

December 1, 2004 East Meadow, New York

Simmons, Jannace & Stagg, L.L.P. announced that it secured a multi-million dollar settlement in favor of its client, a Fortune 100 company. The result was a turnaround for the company in the face of a lawsuit in which the plaintiffs had individuals alleged that the company owed commission payments in excess of $50 million dollars. The recovery resulted from a counterclaim that Simmons, Jannace & Stagg asserted on the company’s behalf claiming that the plaintiffs individuals actually owed millions back to the company. The firm discovered evidence that the plaintiffs individuals had defrauded the company and, after disclosure of that evidence, the individuals plaintiffs quickly agreed to pay a multi-million dollar settlement to our client. Simmons, Jannace & Stagg represented the company in connection with the litigation and the negotiation of the multi-million dollar settlement in its favor.