CCC Information Services, Inc. Capitulates to Vehicle Valuation Services, Inc.
22 May 2000
CCC Information Services, Inc. Capitulates to Vehicle Valuation Services, Inc.OAKBROOK TERRACE, Ill., May 22 Vehicle Valuation Services, Inc. announced today that a lawsuit initially filed against it by CCC Information Services Inc. was dismissed pursuant to a written settlement agreement, which awarded VVS an undisclosed sum of money in reimbursement of fees and costs incurred as a result of litigation. The specific terms of the settlement agreement are subject to a confidentiality provision, which prohibits further disclosure of additional detail. Spokesman Neil Blitstein, President and CEO of Vehicle Valuation Services, Inc., stated, "It's nice to have this albatross off our back, the settlement award is welcome, but most important is our ability to freely compete without prjudice in the open market. We are confident that we will prevail, owing to our superior products and customer service." Vehicle Valuation Services, Inc. is the recognized authority and premier provider of retail market valuations for insurance carriers nationwide.