Krispy Kreme nears settlement of litigation
December 28, 2009
by Eric Schroeder
WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts, Inc. has received notice of a proposed settlement of derivative litigation pending against the company and its former chief executive officer, Scott A. Livengood. The action brought on behalf of Krispy Kreme seeks to recover damages caused by alleged breaches of fiduciary duties in connection with the management of the company and the company’s acquisitions of certain franchises. If approved by the U.S. District Court for the Middle District of North Carolina at a hearing set for Feb. 24, 2010, the proposed settlement would result in the final dismissal of the action against Mr. Livengood without costs and with prejudice.