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Kaman Corp., Bloomfield, CT, and Mason Capital Ltd., New York, NY, have agreed to end litigation concerning Kaman's proposed recapitalization. (For an analysis of events surrounding this, view this article: http://www.mdm.com/stories/kam3520a.html.)
To accomplish that, joint motions have been filed with the court requesting dismissal of the litigation and dissolution of an injunction issued by the court on Oct. 31, 2005, in connection with its ruling in favor of the company that would otherwise prevent the company from closing the proposed recapitalization until Dec. 1, 2005. Once the court has dismissed the litigation and dissolved the injunction, the company intends to close the recapitalization as soon as possible.
Mason Capital brought a lawsuit in September in federal district court in New Haven, CT, against Kaman seeking to enjoin the proposed recapitalization unless and until the proposed recapitalization was approved by two super-majority votes."
Kaman Corp. conducts business in the aerospace, industrial distribution and music markets.