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Commitments and Contingencies
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9 Months Ended | ||
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Sep. 30, 2012
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| Commitments and Contingencies [Abstract] | |||
| Commitments and Contingencies |
The Company is involved in legal proceedings arising out of the ordinary course and conduct of our business, the outcomes of which are not determinable at this time. We have insurance policies covering such potential losses where such coverage is cost effective. In the Company’s opinion, any liability that might be incurred by us upon the resolution of these claims and lawsuits will not, in the aggregate, have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. As a result of the events related to the Settlement Agreement as described in Note 2 above, the Company incurred costs related to legal, accounting and other professional fees. For the nine months ended September 30, 2012, the Company incurred costs of approximately $3.8 million of Settlement Agreement related costs that will be paid by December 31, 2012. These costs are inclusive of $0.5 million of professional fees to be reimbursed to the Concerned Stockholder Group as stated in the Settlement Agreement. During the third quarter of fiscal 2012, the Company’s Board of Directors continued to explore and evaluate potential strategic alternatives as previously disclosed on March 15, 2012, including a potential sale or debt refinancing. As a result of these strategies, the Company incurred costs of $0.5 million, specifically relating to professional fees and other fees and expenses. These costs are included within the General and Administrative line in our Consolidated Statement of Operations and Comprehensive Income (Loss).
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