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April 8, 2014
09:05 EDTJOBGeneral Employment Enterprises enters into settlement agreement with Long Ridge
General Employment Enterprises announced that it entered into a settlement agreement on April 2 with Long Ridge Office Portfolio, resolving a November 13, 2013 complaint Long Ridge filed in the Circuit Court of DuPage County against General Employment. In the complaint captioned Long Ridge Office Portfolio, L.P. v. General Employment Enterprises; and PSQ case number 2013L001084, Long Ridge sought monetary damages in the amount of at least $482,354.49 in unpaid rent for the lease of its 8,211 square feet office space located on the 22nd floor of One Tower Lane, Oakbrook Terrace, Illinois 60181 to General Employment. According to the settlement agreement, General Employment will pay $125,000 to Long Ridge in two installments: $100,000 due immediately, and the remaining $25,000 due 30 days after execution of the agreement. The initial $100,000 was immediately paid upon the execution of the agreement.
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