Accuflex Inc

Just three weeks after vowing to "vigorously defend itself against this action," Pacific Scientific Co. said Thursday that it has settled a breach-of-contract lawsuit arising from its sale of a line of mechanical seals. The Newport Beach-based maker of electronic measuring equipment declined to disclose the exact amount of the settlement with Texas-based Accuflex Inc. but said it would reduce third-quarter earnings by about 10 cents a share. That would equal about $542,000.

Just three weeks after vowing to "vigorously defend itself against this action," Pacific Scientific Co. said Thursday that it has settled a breach-of-contract lawsuit arising from its sale of a line of mechanical seals. The Newport Beach-based maker of electronic measuring equipment declined to disclose the exact amount of the settlement with Texas-based Accuflex Inc. but said it would reduce third-quarter earnings by about 10 cents a share. That would equal about $542,000.