July 22, 2009 (FinancialWire) — StarTek, Inc. (NYSE: SRT) (Current Market Cap: $128.44 Mil.) said it has executed a stipulation of settlement with the lead plaintiffs of a federal securities class-action lawsuit.

The total settlement amount to be paid under the agreement is $7.5 million, of which StarTek’s primary insurance carrier will contribute $6.9 million and StarTek will contribute $600,000.

According to the company, the settlement is subject to various conditions, including preliminary approval by the applicable federal court, notice to the class members, a final hearing, and final approval by the applicable federal court.

Denver-based StarTek provides business process outsourcing services to the communications industry. The company’s services include customer care, sales support, complex order processing, accounts receivable management, technical support and other industry-specific processes.

StarTek serves its clients from 19 operational facilities in the U.S., Canada and the Philippines.

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