Jim Gibbs, Chairman, President and CEO of the Company stated: "We are pleased to be able to put this litigation behind us. The proposed settlement will remove uncertainty inherent in this litigation, minimize future legal costs, and allow us to focus on the business of the Company."
Once a settlement agreement is finalized between the plaintiffs and Frontier, including releases by the plaintiffs, the settlement will be subject to approval by the Los Angeles Superior Court where the Beverly Hills lawsuits have been consolidated. Following court approval, the settlement should resolve all of the litigation against Frontier currently pending in the Los Angeles Superior Court or on appeal to the California Court of Appeals.
Frontier operates a 110,000 barrel-per-day refinery located in El Dorado, Kansas, and a 52,000 barrel-per-day refinery located in Cheyenne, Wyoming, and markets its refined products principally along the eastern slope of the Rocky Mountains and in other neighboring plains states.
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