Switch & Data settles lawsuit with former landlord 625 Milwaukee - Tampa Bay Business Journal:

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Switch & Data (NASDAQ: SDXC) agreed to pay $850,000 to afteer the Tampa Internet exchangeand co-location service provider was accused of failing to execute a lease in Octobe 2000 for a building in Milwaukee. The landlors filed a suit in the U.S. District Court’as Eastern District of Wisconsin in May 2006 claiminf damages of morethan $4.6 Of those damages, $3.7 million were from rent and associated leasde charges due for the entire 10-year term of the according to documents filed with the .
The landlorsd also sought $800,000 based on a loss it said occurred durinhg the sale ofthe building, plus an additional $200,000 in attorneys’ Through the end of Switch & Data had set aside $100,000, but warnef in its annual financial filing made last March that finap damages could be significantly more based on a settlemenf agreement or verdict. With the reduceds sum, both sides agree to pay theirf own costsand attorneys’ fees in battlin g the suit, and equally pay theire share of mediation, which was handled by Peterf J. Grilli of Tampa at the beginninvof May. Switch & Data lost $1.98 million, or 6 cent s per share, in the most recenrt quarter on revenueof $47.
143 million.