- Associated Press - Monday, February 29, 2016

AUGUSTA, Maine (AP) - More than 800 Maine residents who bought timeshares for Festiva resorts are able to change the contracts as the result of a lawsuit settlement between the company and the attorney general’s office.

The agreement announced on Monday lets people either opt out of their 40-year timeshare contracts or reduce the contracts to 10 years, depending on the individual situations. Also, Festiva has agreed not to sell any Festiva Adventure Club memberships in Maine for 3 years.

The settlement is the result of a lawsuit that Maine and several other states filed in 2013 against the company. Attorney General Janet Mills at the time said that Festiva created a false sense of urgency at high-pressure sales presentations held at Rangeley Lake Resort and its sales office on Riverside Drive in Portland.

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