Skilled Healthcare Group, Inc. (NYSE: SKH) announced that it has agreed to a stipulation with the parties of the lawsuit in Humbolt County that was previously announced last week. Pursuant to the stipulation, the parties have agreed to stay all proceedings in the litigation to pursue mediation and is subject to court approval. from the date of the stipulation through August 9, 2010 at 8:30 a.m. Pacific Daylight Time, the plaintiffs in the litigation have agreed not to seek any relief to convert the previously announced jury verdict in the litigation to a judgment, nor to seek to attach, obtain an interest in or obtain control over the Company’s (or any other of the defendants’) property. During that same time period, the Company and other defendants have also agreed not to transfer or otherwise impair their assets outside of bankruptcy, other than in the ordinary course of their respective businesses, and not to file a voluntary petition for relief in any United States Bankruptcy Court.
For more details, visit the 8-K.