Western Union 2011 Annual Report Download - page 48

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Services, Inc. have agreed to make relating to anti-money laundering monitoring. The Memorandum of
Understanding also indicates that the individual defendants deny any wrongdoing or liability with respect to the
plaintiff’s claims and that the settlement does not constitute an admission of liability of wrongdoing by any party.
None of the defendants will be required to pay monetary damages. The plaintiff’s counsel is seeking attorney’s
fees and expenses from the Company not to exceed $850,000. Defendants have agreed not to oppose the amount
of a requested fee and expense award up to that amount. The settlement and the attorney’s fee and expense award
are subject to the approval of the United States District Court for the District of Arizona.
In the second quarter of 2009, the Antitrust Division of the United States Department of Justice (“DOJ”)
served one of the Company’s subsidiaries with a grand jury subpoena requesting documents in connection with
an investigation into money transfers, including related foreign exchange rates, from the United States to the
Dominican Republic from 2004 through the date of subpoena. The Company is cooperating fully with the DOJ
investigation. Due to the stage of the investigation, the Company is unable to predict the outcome of the
investigation, or the possible loss or range of loss, if any, which could be associated with the resolution of any
possible criminal charges or civil claims that may be brought against the Company. Should such charges or
claims be brought, the Company could face significant fines, damage awards or regulatory consequences which
could have a material adverse effect on the Company’s business, financial condition and results of operations.
The Company is a party to a variety of legal proceedings that arise in the normal course of our business. While
the results of these legal proceedings cannot be predicted with certainty, management believes that the final
outcome of these proceedings will not have a material adverse effect on the Company’s results of operations or
financial condition.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
41