AJ Gallagher books $55mn gain in Q3 from legal settlement
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AJ Gallagher books $55mn gain in Q3 from legal settlement

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AJ Gallagher has recorded a $55mn gain from a cash settlement in the third quarter – or $35mn net of litigation costs and taxes – associated with legal proceedings in which the broker was the plaintiff, regulatory records show.

The Q3 settlement gain will be recognized in Q4, according to Gallagher’s 10-Q filing with the SEC.

The Illinois-based intermediary said that the settlement gain is the result of “a series of lawsuits” that were resolved in October.


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