Truckload carrier Swift Transportation has settled a personal injury lawsuit that it had planned to appeal following a jury ruling against the company last year.
Swift said the settlement, reached Feb. 21, resulted from a lawsuit last year over a motor vehicle accident involving one of its trucks last year.
An Arizona Superior Court jury had rendered an $11 million verdict against the company in the case in 2002, but Swift had planned to appeal.
The carrier said the settlement deal exceeds the company's insurance coverage during the period when the accident occurred by $6.25 million. Swift said it requested that its insurance broker contribute to that shortfall, adding that it will make an adjustment to its fourth-quarter results if its broker doesn't cover the full amount.
