Protection One Inc., a Lawrence-based provider of monitored security systems and services, has agreed to pay $3.25 million to settle lawsuits regarding the company’s pending sale to a private-equity firm.

The equity firm, Chicago-based GTCR, announced this week that neither it nor Protection One admit wrongdoing in settling the class-action suits, filed separately in Douglas County District Court in Lawrence and in Delaware.

In going to court, investors criticized Protection One and its majority shareholders for breaching their fiduciary duty to other shareholders by tendering majority shares to GTCR.

The settlement works out to about 40 cents per share.

Protection One is based in the I-70 Business Center at 1035 N. Third St. in North Lawrence. In January, Protection One had 73 employees in Lawrence and 715 in Kansas, including 620 in Wichita and others in Lenexa.

The sale is expected to close in the second quarter.