URS Corporation issues statement on settlement of I-35W bridge litigation

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SAN FRANCISCO — URS Corporation issued the following statement regarding its settlement of the I-35W bridge litigation: "URS has reached an agreement that fully resolves the plaintiffs’ legal claims against the company with no admission of liability or fault by URS. The I-35W bridge collapse was a tragedy, which the National Transportation Safety Board concluded was caused by a design flaw, compounded by large weight increases from upgrade projects over the years, and the traffic and construction loads on the day the bridge collapsed. URS was not involved in the design or building of the bridge, nor was it involved in any of the later construction work, including the resurfacing work being done when the bridge collapsed.

"URS believes it is in the best interest of the company and its shareholders to resolve this matter and avoid the cost and distraction of protracted litigation. The settlement amount of $52.4 million will be paid in full by the company’s insurers."