Sharpe Enters Settlement Agreement in Geiler Case
PRESS RELEASE FROM SHARPE HOLDINGS, INC.
BETHEL, MO – Sharpe Holdings, Inc. recently entered a settlement agreement with Sheyanne Geiler, Haile Geiler, Edward Geiler, and Linda Norman concerning the unfortunate death of Richard Geiler. Sharpe’s sympathies and prayers are with Mr. Geiler’s family members concerning the death of their loved one, which, of course, can never be appropriately compensated. The settlement eliminates the potential that Sharpe might have to pay substantial damages in a lawsuit pending in the Circuit Court of Adair County, Missouri.
As part of the settlement, Sharpe agreed not to contest entry of judgment in favor of the plaintiffs in the lawsuit, but the settlement also eliminates the plaintiffs’ ability to collect on the judgment from Sharpe and allows them to pursue one of Sharpe’s insurers to satisfy the judgment. The insurer had refused to provide insurance coverage for the lawsuit.
Remarking on the reasons for the settlement, David Melton, General Counsel for Sharpe Holdings, noted that Sharpe faced the possibility of a judgment in the lawsuit that might not have been insured. “The settlement eliminates the risk, expense, and distraction of further litigation, along with the uncertainty as to whether Sharpe would have to bear some or all of any judgment. This settlement takes care of those concerns.”