FPIC Insurance Group, Inc. Agrees to Settle Shareholder Litigation

FPIC Insurance Group FPIC today announced that FPIC and the other named defendants have signed a memorandum of understanding with a purported shareholder of FPIC to settle in principle a putative class action lawsuit, which relates to the proposed merger of FPIC with Fountain Acquisition Corp., a wholly owned subsidiary of The Doctors Company. The memorandum of understanding provides, among other things, that the parties will seek to enter into a stipulation of settlement which provides for the release of all asserted claims, subject to court approval.