BRIEF-Cathedral Energy Services Ltd. announces settlement of U.S. collective action lawsuits

Tue Aug 9, 2016 10:39am EDT
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Aug 9 (Reuters) - Cathedral Energy Services Ltd

* Cathedral Energy Services Ltd. announces settlement of united states collective action lawsuits

* Under terms of settlement agreement, parties will establish a settlement fund of up to US$3.4 million

* Entered into settlement agreement, release in respect of 2 wage and hour lawsuits filed against unit Cathedral Energy Services Inc

* Settlement agreement contemplates structured quarterly payments which are subject to Cathedral's financial condition Source text for Eikon: Further company coverage: