Labor Ready Announces Legal Settlements

Professional employer organization (PEO), Labor Ready, Inc. (NYSE:LRW) and the Washington State Department of Labor & Industries have resolved the state's audit of Labor Ready's workers compensation insurance premiums. Under the terms of the agreement, the state will deduct $139,000 from a refund owed the company under the state's retroactive rating program. The state has withdrawn all remaining claims and agreed there will be no further audits or assessments for any periods through June 30, 2002. The state had originally sought to assess premiums, penalties and interest totaling $1.2 million ...