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Insurance Covers Most of Arbitron's $9M Legal Bills
Arbitron has revealed its legal costs for the last two years in a 10-Q filing with the SEC. The ratings firm said it spent $9.1 million in two securities suits in 2008, and various "interactions" with state and federal governments over the commercialization of PPM. Arbitron said that over half of the costs were covered by insurance.
As as of the end of June, Arbitron received $5.6 million in insurance reimbursements. During 2009 and 2008, the ratings giant also incurred $2.7 million in business interruption losses and damages over the effects of Hurricane Ike which totaled $1.6 million, also paid by insurance. (08-06-10)
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