Thursday, February 3, 2011

Hilton Paid Starwood $75 Million in Espionage Settlement

Hilton Worldwide Inc. paid $75 million last year to Starwood Hotels & Resorts Worldwide as part of a settlement agreement in a corporate-espionage lawsuit, according to a person familiar with the matter.
In its earnings statement Thursday, Starwood said it received the money in a corporate settlement in December but didn't identify Hilton. Still, the legal settlement with Hilton was the only one Starwood reached that month.

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