TKO Group disclosed this morning that it reached an agreement with the plaintiffs to settle all claims asserted in the Le case case for an aggregate amount of $375M payable in installments over an agreed-upon period of time by the company and its subsidiaries, following the court’s denial of an earlier proposed settlement agreement. The terms of the updated settlement agreement have been memorialized in a long form agreement, which will be submitted to the court for approval. The company anticipates that the settlement amount will be deductible for tax purposes. Shares of TKO Group are up 78c to $121.89 in afternoon trading.
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