VERRA MOBILITY CORPORATION Verra Mobility Corporation (NasdaqCM:VRRM) entered into a confidential business arrangement to acquire Certain Assets from PlusPass, Inc. on February 8, 2024. The company will pay PlusPass $31.5 million (the ?Payment Amount?) to (i) acquire certain assets from PlusPass and (ii) fully and finally resolve the previously disclosed litigation in the United States District Court, Central District of California. The Company expects to pay the Payment Amount from existing cash and cash equivalents, and to record the Payment Amount for the quarter ending March 31, 2024.
The Company accrued $31.5 million for this matter at December 31, 2023, which is expected to be presented within selling, general and administrative expenses in the consolidated statements of operations for the year ended December 31, 2023.
