Campbell Announces Settlement in Principle of Class Action Lawsuit

     
BW20030206002467  20030206T213621Z UTC


( BW)(CAMPBELL-SOUP-CO)(CBE) Campbell Announces Settlement in
Principle of Class Action Lawsuit

    Business Editors
    UK REGULATORY NEWS

    CAMDEN, N.J.--(BUSINESS WIRE)--Feb. 6, 2003--

Campbell Soup Company (NYSE:CPB) announced today that it has reached a
settlement to conclude a securities class action lawsuit brought
against the Company and two of its former executives in January 2000.
Under the settlement, all claims will be dismissed and the litigation
will be terminated in exchange for a payment of $35 million. The full
amount of the payment will be covered by insurance. The settlement is
subject to court approval.

The lawsuit focused on shipping and sales practices from September
1997 through January 1999, and related public disclosures. The
settlement agreement recognizes that entry into the settlement does
not constitute an admission of fault or liability by Campbell or any
other defendant.

   Short Name: Campbell Soup Company
   Category Code: MSC
   Sequence Number: 00001837
   Time of Receipt (offset from UTC): 20030206T210331+0000

    --30--db/in

    CONTACT: Campbell Soup Company
             Michelle M. Davidson (Media), 856/968-4390
             Leonard F. Griehs (Analysts), 856/342-6428

    KEYWORD: NEW JERSEY UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: SUPERMARKETS RETAIL FOODS/BEVERAGES LEGAL/LAW
CLASS ACTION LAWSUITS
    SOURCE: Campbell Soup Company

Today's News On The Net - Business Wire's full file on the Internet
                          with Hyperlinks to your home page.
                          URL: http://www.businesswire.com

Campbell Soup (LSE:CBE)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024