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The incident happened Wednesday, Apr. 11, around 10:20 p.m.
According to Division Chief Mike Dudlo of the Burbank Police Department, two Chicago men who worked together at a business in Bedford Park were engaged in an ongoing dispute which culminated in the parking lot stabbing.
Dudlo said the victim was stabbed twice and suffered a collapsed lung but is expected to make a full recovery.
According to Dudlo, the suspect was taken into custody but was later released after the stabbing victim refused to sign a complaint against his alleged assailant.
The investigation is ongoing and charges are pending.