Heckmann Announces Preliminary Settlement in Shareholder Derivative Suit Related to Acquisition of China Water & Drinks

Heckmann Corporation HEK (“Heckmann” or the “Company”) today announced that it has entered into a stipulation of settlement with plaintiff and all defendants in a shareholder derivative lawsuit related to the Company's acquisition of China Water & Drinks, Inc. (“China Water”) that was filed in 2010 in the Superior Court of California. The stipulation of settlement, which will be filed with the Superior Court of California within the next week, remains subject to the court's preliminary and final approvals. Subject to final approval of the settlement by the Superior Court of California, and in exchange for a release of all claims by plaintiff, among others, and a dismissal of the shareholder derivative action, the See full press release