Southland subsidiary settles WA convention center lawsuit; sureties to pay additional $26.5M

Southland Holdings, Inc.

American Bridge resolves litigation over Washington State Convention Center expansion project.
Sureties previously paid $57.8M on $57.1M Merits Judgment against American Bridge.
Settlement requires sureties to pay another $26.5M ($25.5M costs/fees + $1M sanctions).
American Bridge is appealing the sanctions order; rights are reserved under the agreement.
Repayment terms with sureties being negotiated; forbearance on repayment until March 2027.

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