CBIZ identifies additional one-time legal expenses of $15 million
CBZ•CBIZ identified an additional $15 million in one-time legal expenses, expects net income to decrease by $10.5 million after tax, and said adjusted net income, adjusted diluted EPS and adjusted EBITDA will not be affected.
1. Expense details
CBIZ disclosed the additional legal expenses in an SEC filing and anticipates a $10.5 million net-income decrease after tax. The company said the expense will not affect its disclosed adjusted net income, adjusted diluted EPS or adjusted EBITDA. CBIZ also said its acquisition by an affiliate of Grant Thornton in the U.S. is pending.
