Neteller, the London-listed payment processor, said this morning that it had settled with the U.S. Attorney's Office for the Southern District of New York (USAO) on a plan to refund its U.S. customers.
The company said it was continuing to cooperate with the USAO and would, using its "best efforts," try to resolve the investigation no later than July 13, 2007.
It added that its agreement with Navigant Consulting, announced March 21, to develop and implement a distribution plan to refund U.S. customers had now been agreed upon.
"The agreement on the distribution plan represents a milestone in our cooperation with the U.S. authorities," said Neteller CEO Ron Martin. "While we are disappointed not to have been able to return funds to our U.S. customers at this point, we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the USAO by 13 July 2007."
The company's shares remain suspended on the LSE.