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Computer Horizons settles Chimes suit

December 20 2007
Computer Horizons Corp. (OTCBB: CHRZ.PK) said Wednesday it settled a lawsuit with Axium International Inc. for $175,000. Axium purchased Computer Horizons' Chimes subsidiary in February 2007. The suit alleged "fraudulent conduct" and other allegations, according to a filing with the U.S. Securities and Exchange Commission.

The company also sold its commercial services business to TEKsystems earlier this year and its RGII Technologies Inc. subsidiary to NetStar-1 in 2005.

Computer Horizons also announced Wednesday will pay a liquidation distribution of 30 cents per share on Feb. 11.

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