UMDA, Wickline settle lawsuits

Posted on Dec 07 2015

United Micronesia Development Association Inc. and its former president and chief executive officer David L. Wickline have reached a settlement to their legal dispute.

UMDA and Wickline, through their respective counsel Robert T. Torres and Colin M. Thompson, informed the U.S. District Court for the NMI on Friday about their agreement to drop all claims in their lawsuits. Both parties cannot re-open the case in the future.

The terms of the settlement agreement were not disclosed, but each party shall bear their own attorney’s fees and costs.

Torres and Thompson asked the court to order the matter closed and take any and all future hearings off-calendar.

UMDA sued Wickline “to protect its shareholders from dilution of their interests in the company, to recover substantial damages that UMDA discovered during the course of its investigation, and to stop Wickline from working behind the scene to undermine shareholder confidence.”

Wickline, however, countersued. The court consolidated the cases.

Ferdie De La Torre | Reporter

Ferdie Ponce de la Torre is a senior reporter of Saipan Tribune. He has a bachelor’s degree in journalism and has covered all news beats in the CNMI. He is a recipient of the CNMI Supreme Court Justice Award. Contact him at ferdie_delatorre@Saipantribune.com

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