Confidential settlement reached, ending
litigation
LAWRENCE
COUNTY, Ala., July 30,
2024 /PRNewswire/ -- MS Industries II LLC (MSI), a
large-scale mining and mineral development company with multiple
facilities in northwest Alabama,
today announced the confidential settlement and dismissal of a
lawsuit filed by former investor Steven
Booth and S3B, LLLP, against MSI, Steven D. Smith, and several other entities
controlled by the Smith Family Trust, and Steven D. Smith's and the Smith Family Trust's
countersuit against Steven
Booth/S3B, LLP.
The case, which had been vigorously litigated for four years,
was dismissed with prejudice on June 6,
2024, by the Circuit Court of Lawrence County, Alabama. The dismissal order
effectively ends the legal dispute and countersuit between Booth
and MSI, along with the Smith defendants.
Steven D. Smith, founder and CEO
of MSI, commented on the development, stating, "We are pleased with
the settlement. It's time for us to continue our mission of
producing the highest quality industrial mineral products for
the United States and its allies.
MSI is set to become the largest exporter of mined industrial
silica products in the State of
Alabama by year's end."
Smith remains the majority owner of the privately held company
with the same group of core shareholders and officers. According to
Smith, the company currently has strong assets and more than 22
industrial products and is the proud owner of the trademark "Mined
in America."
MSI is known for its high-grade industrial products serving
diverse applications ranging from microproppants for hydraulic
fracturing, glass and roofing products, foundry products, concrete
additives, expanded clay pebbles for hydroponics and sports
facilities, and clay cosmetics.
For more information about MSI, visit msind.com. Download a copy
of the order of dismissal here and at LawsuitPressRelease.com.
Contact: John P. David
John@LawsuitPressRelease.com | 888-859-6637
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SOURCE MS Industries II LLC