09:52 AM EST - NovaGold Resources Inc. : said it entered into a memorandum of understanding to settle outstanding securities class action lawsuits in both the United States and Canada, in which NovaGold and certain of its directors and officers were named as defendants. The company noted that the settlement would be covered by its insurance, and it does not anticipate having to pay out any of its cash under the terms of the settlement. The memorandum of understanding is subject to agreement on formal documentation and both U.S. and Canadian court approval after public notice. NovaGold Resources Inc.
shares T.NG are trading up $0.05 at $6.48.
