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Movement in the RadioShack bankruptcy

1 year 1 month 3 weeks ago August 26, 2015 Aug 26, 2015 Wednesday, August 26 2015 August 26, 2015 8:11 PM in News
Source: Associated Press

WILMINGTON, NORTH CAROLINA- RadioShack says it reached a tentative settlement in treatment over gift cards in the company's bankruptcy case.

Holders of roughly a third of the $46 million in outstanding gift cards would receive priority status and be paid in full. Other gift card holders would be paid pennies on the dollar depending on how they received their gift cards.

Lawyers for some gift card holders say they may still press their claims.

The settlement reached Wednesday came after a complaint from the Texas Attorney General's office which is working with attorney's general in other states on behalf of RadioShack gift card holders.

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