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<blockquote data-quote="InsideUPS" data-source="post: 1101490" data-attributes="member: 31414"><p><span style="color: #008000"><strong>I'm sorry Hoaxster....I must have been thinking about the 27 lawsuits that were brought against UPS as reported here...so......"totally erroneous"????? UPS "settling" I agree is technically not a fine...</strong></span></p><p><span style="color: #008000"></span></p><p></p><p><a href="http://www.businessinsurance.com/apps/pbcs.dll/article?AID=999920004207" target="_blank">http://www.businessinsurance.com/apps/pbcs.dll/article?AID=999920004207</a></p><p></p><p></p><p><span style="color: #008000"><strong>Atlanta-based UPS was hit with 27 such lawsuits across the country after a U.S. Tax Court judge ruled in 1999 that Bermuda-based Overseas Partners Ltd. was a "sham" intended to divert taxable UPS income from the excess-value program</strong>. </span>A panel of the 11th U.S. Circuit Court of Appeals later overturned the ruling, finding that OPL served a legitimate business purpose.</p><p>The class actions continued, though, after being consolidated before U.S. District Judge Richard Berman in New York. Judge Berman on Friday approved the terms of a settlement, under which UPS would pay no cash but would grant customers covered by the deal vouchers good for future UPS shipments.</p><p>While plaintiffs lawyers valued the vouchers at $205 million, a UPS spokesman insisted that "it's going to be notably less than that."</p><p>- See more at: <a href="http://www.businessinsurance.com/apps/pbcs.dll/article?AID=999920004207#sthash.HDJdSVfr.dpuf" target="_blank">http://www.businessinsurance.com/apps/pbcs.dll/article?AID=999920004207#sthash.HDJdSVfr.dpuf</a></p></blockquote><p></p>
[QUOTE="InsideUPS, post: 1101490, member: 31414"] [COLOR=#008000][B]I'm sorry Hoaxster....I must have been thinking about the 27 lawsuits that were brought against UPS as reported here...so......"totally erroneous"????? UPS "settling" I agree is technically not a fine...[/B] [/COLOR] [URL]http://www.businessinsurance.com/apps/pbcs.dll/article?AID=999920004207[/URL] [COLOR=#008000][B]Atlanta-based UPS was hit with 27 such lawsuits across the country after a U.S. Tax Court judge ruled in 1999 that Bermuda-based Overseas Partners Ltd. was a "sham" intended to divert taxable UPS income from the excess-value program[/B]. [/COLOR]A panel of the 11th U.S. Circuit Court of Appeals later overturned the ruling, finding that OPL served a legitimate business purpose. The class actions continued, though, after being consolidated before U.S. District Judge Richard Berman in New York. Judge Berman on Friday approved the terms of a settlement, under which UPS would pay no cash but would grant customers covered by the deal vouchers good for future UPS shipments. While plaintiffs lawyers valued the vouchers at $205 million, a UPS spokesman insisted that "it's going to be notably less than that." - See more at: [URL]http://www.businessinsurance.com/apps/pbcs.dll/article?AID=999920004207#sthash.HDJdSVfr.dpuf[/URL] [/QUOTE]
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