CARFAX and Primeritus Agree to Resolve Pending Litigation

Rhea-AI Summary

CARFAX and Primeritus Financial Services have amicably resolved their dispute regarding data access through myCARFAX, which was pending in U.S. District Court, Virginia. Both companies maintain strong positions related to their claims but decided resolving the matter was in their best interests. They look forward to strengthening their long-standing business relationship.

About CARFAX: CARFAX, part of IHS Markit (NYSE: INFO), provides vehicle history information, helping millions shop, buy, and sell used cars.

Positive

• Resolution of the dispute allows for a continued long-standing business relationship between CARFAX and Primeritus.
• Both companies expressed strong commitment to their positions, indicating potential for ongoing collaboration.

Negative

• None.

NASHVILLE, Tenn., Aug. 27, 2020 /PRNewswire/ -- CARFAX and Primeritus Financial Services, Inc. have amicably resolved their dispute filed in U.S. District Court in Virginia relating to access to data through myCARFAX.  Both feel strongly about their positions and the claims and defenses they have against each other, but decided it was best to resolve this matter at this time.  Both look forward to continuing their long-standing business relationship.

About Primeritus Financial Services: Primeritus Financial Services is a national provider of repossession management, remarketing, titled services and skip tracing services to the auto finance industry in the U.S. and Puerto Rico. Primeritus provides clients with value-added, outsourced repossession management, skip tracing and remarketing services, leveraging a national network of certified agents and unique investigative techniques to quickly and reliably secure customers' collateral. Through leadership, service and performance, Primeritus Financial Services offer the trifecta of repossession services: locate, recover and remarket. For more information, please visit www.primeritus.com.

About CARFAX:  CARFAX, part of IHS Markit (NYSE: INFO), helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX vehicle history information. The expert in vehicle history since 1984, CARFAX provides exclusive services like CARFAX Used Car Listings, CARFAX Car Care, CARFAX History-Based Value and the flagship CARFAX® Vehicle History Report™ to consumers and the automotive industry. CARFAX owns the world's largest vehicle history database and is nationally recognized as a top workplace by The Washington Post and Glassdoor.com. Shop, Buy, Service, Sell – Show me the CARFAX™. Based in London, IHS Markit is a world leader in critical information, analytics and solutions.

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SOURCE Primeritus Financial Services, Inc.

FAQ

What was the dispute between CARFAX and Primeritus Financial Services about?

The dispute involved access to data through myCARFAX.

When was the dispute between CARFAX and Primeritus resolved?

The dispute was resolved on August 27, 2020.

Which company is part of IHS Markit and has the stock symbol 'INFO'?

CARFAX is part of IHS Markit and has the stock symbol 'INFO'.

What is the significance of the resolution for CARFAX investors?

The resolution may enhance CARFAX's operational stability and business relationships, potentially benefiting investors.