Sparkle Pop withdraws Objection over Ad Hoc and Diamond Settlement
Yesterday, a settlement between Diamond, Sparkle Pop, and 13 publishers was approved by the court. It’s a major step in finally winding down Diamond’s chapter 7 drama which has been going on for close to two years. That approved settlement still left open a different settlement that would impact 15 publishers which is currently being litigated.
But, with one settlement approved, there’s speculation that the fight over the other might be winding down as well and there’s a sign that might be the case.
Today, Sparkle Pop has withdrawn their objection to the outstanding settlement with the 15 publishers. This helps pave the way for it to be approved by the court instead of being dragged out even further.
Even if this settlement is approved, there’s still more to go including numerous lawsuits over the process and then there’s the settlement between Diamond and its bank lender JPMorgan Chase Bank.
Stay tuned, we might be seeing light at the end of the very long tunnel!
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