Re: Statement From Attorneys Regarding Global Settlement/Staffing Services LLC Lawsuits in Response to a Press Release Issued Yesterday (1/25/10) By the California Department of Insurance

OFFICIAL STATEMENT

Jan 26, 2010, 11:07 ET from Staffing Services, LLC

SANTA ANA, Calif., Jan. 26 /PRNewswire/ -- In a statement released today by Ronald A. Ziff and Drew E. Pomerance, attorneys for Staffing Services, LLC, Bellflower, it was confirmed that the lawsuits against the temporary employment company have been categorically and satisfactorily resolved.

"We have reached a successful global settlement in a case that has spanned a three-year period and one that took nearly a year of discussion, deliberation, negotiation and compromise in order to reach a viable agreement," says Ziff.  "The final result is a settlement arrangement that involves the best interests of all parties."

The Los Angeles District Attorneys office and the State Compensation Insurance Fund (SCIF), who brought the actions against Staffing Services, LLC, several years ago, recently reported they had struck a deal to receive $20 million dollars in restitution from Staffing Services. According to Ziff, that figure represents a settlement number only. "In actuality, the net effect of what Staffing Services is required to payout is an agreed upon amount of $5 million over a 24 year period," he explains. "Provided the incremental payments of the $5 million settlement are made on time and in full, that $5 million amount will bring about full restitution by Staffing Services as well as a release of all claims against the corporation."

"Having finally come to resolution in this complex matter, it now allows my client to focus more fully on those business activities that have been consistently of benefit to the temporary help industry and the community it serves," Ziff states.

Since its inception in 1995, Staffing Services has provided jobs for tens of thousands of people in the southern California area, and has enjoyed an excellent reputation and working relationship with a number of other insurance carriers.

Contact: Cherie Kerr/KerrPR (714) 550-9900 or (714) 271-2140

Email: cherie_kerr@kerrpr-execuprov.com


SOURCE Staffing Services, LLC