CEDIA Expo Parent Settles COVID-19-Based Insurance Litigation
CEDIA Expo parent Emerald Holding agreed to settle outstanding insurance litigation stemming from trade shows canceled due to COVID-19 for proceeds of $149.25 million, it said in its Q2 earnings release Monday. Upon expected receipt in Q3, total insurance proceeds…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
from 2020-2021 are expected to equal $372.9 million, it said. In Q2 Emerald held 29 in-person trade shows, conferences and other events, it said. Revenue was $71.4 million vs. $15 million in Q2 2021. Emerald had a net loss of $700,000 in Q2 vs. a net loss of $46.5 million in the year-ago quarter. CEO Herve Sedky said the company continues to see "clear evidence of ongoing recovery in in-person events as qualified attendee and exhibitor counts track towards pre-pandemic levels.”