Oct 29 (Reuters) - Crown Resorts Ltd (CWN) :
- SETTLEMENT OF CLASS ACTION AGAINST CROWN
- REACHED AGREEMENT TO SETTLE SHAREHOLDER CLASS ACTION COMMENCED AGAINST IT ON 4 DECEMBER 2017
- TOTAL SETTLEMENT AMOUNT IS A$125M INCLUSIVE OF INTEREST AND COSTS
- TOTAL SETTLEMENT AMOUNT IS A$125M INCLUSIVE OF INTEREST AND COSTS.
- EXPECTS TO RECOVER SIGNIFICANT PORTION OF SETTLEMENT AMOUNT FROM INSURERS BUT CANNOT AT THIS STAGE BE CERTAIN ABOUT OUTCOME OF TALKS
- DETERMINED THAT AGREEMENT TO SETTLE PROCEEDING WAS A COMMERCIAL DECISION MADE IN BEST INTERESTS OF CROWN AND ITS SHAREHOLDERS
- SETTLEMENT OF PROCEEDING, WHICH IS WITHOUT ADMISSION OF LIABILITY, IS SUBJECT TO FEDERAL COURT APPROVAL AND OTHER CONDITIONS
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