MoneyGram 2010 Annual Report Download - page 28

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Table of Contents
Item 1B. UNRESOLVED SEC COMMENTS
None.
Item 2. PROPERTIES
Location Use Segment(s) Using Space Square Feet Lease Expiration
Dallas, TX Corporate Headquarters Both 34,921 6/30/2021
Minneapolis, MN Global Operations Center Both 153,592 12/31/2015
Brooklyn Center, MN Global Operations Center Both 75,000 4/30/2015
Lakewood, CO Call Center Global Funds Transfer 114,240 3/31/2015
Information concerning our material properties, all of which are leased, including location, use, approximate area in square feet and lease
terms, is set forth above. Per lease terms, we will be adding 12,000 square feet to our corporate headquarters in Dallas in 2012. Not
included in the above table is approximately 14,600 square feet in Minneapolis, Minnesota that has been sublet. We also have a number
of other smaller office locations in Arkansas, California, Florida, New York, France, Germany, Italy, Spain and the United Kingdom, as
well as small sales and marketing offices in Australia, China, Greece, India, Italy, the Netherlands, Nigeria, Russia, South Africa, Spain,
Ukraine, United Arab Emirates, and Switzerland. We believe that our properties are sufficient to meet our current and projected needs.
Item 3. LEGAL PROCEEDINGS
Legal Proceedings — The Company is involved in various claims, litigation and government inquiries that arise from time to time in the
ordinary course of the Company's business. All of these matters are subject to uncertainties and outcomes that are not predictable with
certainty. The Company accrues for these matters as any resulting losses become probable and can be reasonably estimated. Further, the
Company maintains insurance coverage for many claims and litigation alleged. Management does not believe that after final disposition
any of these matters is likely to have a material adverse impact on the Company's financial condition, results of operations and cash
flows.
Federal Securities Class Actions — As previously disclosed, on March 9, 2010, the Company and certain of its present and former
officers and directors entered into a Settlement Agreement, subject to final approval of the court, to settle a consolidated class action case
originally filed on October 3, 2008 in the United States District Court for the District of Minnesota captioned In re MoneyGram
International, Inc. Securities Litigation. The settlement provides for a cash payment of $80.0 million, all but $20.0 million of which
would be paid by the Company's insurance carriers. At a hearing on June 18, 2010, the Court issued a final order and judgment approving
the settlement. The settlement became effective on July 26, 2010, when the time to appeal the Court's final order and judgment expired
without any appeal having been filed. The Company paid $20.0 million into an escrow account in March 2010 and the insurance carrier
paid $60.0 million in April 2010, resulting in full settlement of the Company's liability in this matter.
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