Date: June 26, 2003
Source: News Room
US Ecology, Inc. is appealing a March 2003 decision in the Superior Court of California for the County of San Diego denying the company's monetary damages claim against the State of California. US Ecology filed the suit following the state's abandonment of the Ward Valley low-level radioactive waste disposal project after earlier issuing a license to the company in 1993. In March 2003, American Ecology announced that in light of the trial court's ruling, it was writing off the entire $21 million deferred site development asset then carried on its balance sheet for the Ward Valley project.
More information: www.americanecology.com.
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