[PR Newswire] – CHARLOTTE, N.C., Feb. 13, 2015 /PRNewswire/ — Horizon Lines, Inc. (HRZL) (“Horizon” or the “Company”) today announced it has reached an agreement in principle providing for the settlement and dismissal, with prejudice, of the consolidated putative class action complaint pending in the Delaware Court of Chancery (the “Court”) in connection with Horizon’s proposed merger with Matson Navigation, Inc. (“Matson”), a subsidiary of Matson, Inc. (MATX) (the “Merger”). Pursuant to the settlement with plaintiffs, which is subject to Court approval, Horizon agreed to make certain supplemental disclosures to Horizon’s stockholders through a supplement to Horizon’s proxy statement.