Brief: Talgo Reaches $15 Mln Compensation Agreement With LACMTA
18/06/2025 06:35
June 18 (Reuters) - Talgo SA TLGO.MC: SAID ON THURSDAY IT REACHED AN AGREEMENT WITH LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY (LACMTA) CONCLUDING LEGAL PROCEEDINGS BETWEEN BOTH PARTIES LACMTA AND INSURANCE COMPANIES WILL PAY TALGO ABOUT $15 MILLION IN COMPENSATION PROCEEDINGS WERE INITIATED AFTER LACMTA TERMINATED ITS CONTRACT WITH TALGO IN 2022 AGREEMENT TO HAVE AN ESTIMATED IMPACT ON TALGO'S RESULTS OF ABOUT $6 MLN POSITIVE IN CASH AND $8 MLN NEGATIVE IN EARNINGS Source text for Workspace: nCNM3jvpVN Further company coverage: TLGO.MC (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))