US LEC, BellSouth Settle Suit

US LEC confirms receipt of payment from Bellsouth

October 15, 2001

1 Min Read

CHARLOTTE, N.C. -- US LEC Corp. (Nasdaq: CLEC - news), a telecommunications carrier providing voice, data and Internet services to business customers throughout the Southeast and Mid-Atlantic, has received a $29.7 million payment from BellSouth (NYSE: BLS - news) relating to the settlement of a dispute announced on October 4, 2001. The remainder of the $31 million settlement is to be paid to US LEC from an escrow account and is expected within 30 days. The escrow account had been established by the Federal Court hearing an appeal of the Georgia Public Service Commission's decision ordering BellSouth to pay US LEC. BellSouth had been making payments into the escrow account. As part of the settlement, all amounts paid into the escrow are to be disbursed to US LEC.US LEC Corp.

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