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A.C. Moore says suit to affect earnings


BERLIN, N.J. A.C. Moore estimates that its earnings for the quarter ended June 30 will decrease by 3 cents per share due to a settlement with a former employee, the company reported in an SEC filing Wednesday. The company reported that on July 23 it entered into a confidential settlement agreement with a former employee to resolve claims made against the company pursuant to a civil action.

According to Reuters, analysts had expected A.C. Moore to report a loss of 4 cents a share.

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