Canaccord Genuity Morning Coffee on ConAgra Foods (CAG): Oy, Vey!
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Price: $35.19 --0%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade CAG Now!
Canaccord Genuity Morning Coffee on ConAgra Foods (NYSE: CAG): Oy, Vey!
ConAgra Foods has been sued by consumers who contend that hot dogs and other products sold under its Hebrew National brand are not kosher. The lawsuit alleges that meat processing services provided to ConAgra by privately held AER Services fell short of the standards necessary to label Hebrew National products as kosher and did nothing to correct the problems and instead fired the employees or threatened to have them fired. But AER is not a defendant in the lawsuit. “The allegations in the complaint regarding AER are completely and utterly false,” Shlomoh Ben-David, AER’s President, said in a telephone interview. “There is no basis for them, and they are without any merit.” ConAgra has long used the slogan “we answer to a higher authority” to promote Hebrew National products. As a result, consumers claimed the meat seller misled consumers and charged premium prices. Eleven individual consumers filed their complaint in May in Minnesota state court and are seeking unspecified damages and an injunction against further mislabelling. Their lawsuit seeks class-action status for U.S. purchasers of Hebrew National products over the last four years, and alleges negligence and violations of state consumer fraud laws. Other ConAgra brands include Chef Boyardee, Healthy Choice, Peter Pan and Reddi-wip, and are not part of the lawsuit.
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ConAgra Foods has been sued by consumers who contend that hot dogs and other products sold under its Hebrew National brand are not kosher. The lawsuit alleges that meat processing services provided to ConAgra by privately held AER Services fell short of the standards necessary to label Hebrew National products as kosher and did nothing to correct the problems and instead fired the employees or threatened to have them fired. But AER is not a defendant in the lawsuit. “The allegations in the complaint regarding AER are completely and utterly false,” Shlomoh Ben-David, AER’s President, said in a telephone interview. “There is no basis for them, and they are without any merit.” ConAgra has long used the slogan “we answer to a higher authority” to promote Hebrew National products. As a result, consumers claimed the meat seller misled consumers and charged premium prices. Eleven individual consumers filed their complaint in May in Minnesota state court and are seeking unspecified damages and an injunction against further mislabelling. Their lawsuit seeks class-action status for U.S. purchasers of Hebrew National products over the last four years, and alleges negligence and violations of state consumer fraud laws. Other ConAgra brands include Chef Boyardee, Healthy Choice, Peter Pan and Reddi-wip, and are not part of the lawsuit.
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