Date: August 24, 2005
Source: News Room
Waste Management Inc. has announced that a U.S. District Court has entered a final order settling litigation between the U.S. Securities & Exchange Commission and executives of a company Waste Management acquired in 1998. The settlement calls for payment of $26.8 million, which Waste Management has agreed to fund, pending a final plan to distribute at least $26.8 million to the company's current stockholders. In related news, Robert S. Miller, former CEO and chairman of Waste Management Inc., has resigned from the board of directors. Miller headed the company in 1999, and was credited with stabilizing the company following accounting and information systems problems.
More information: www.wm.com.
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