Universal Corp. (UVV) Reports Dismissal of Lawsuit Involving CIFI and Universal Leaf North America Subsidiaries
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Universal Corporation (NYSE: UVV), (Universal), announced today the September 29, 2016 dismissal of a lawsuit filed in March 2016 by Mr. William Frank Lee and his company, Central Marketing, Inc., against Universal and its subsidiary, Carolina Innovative Food Ingredients, Inc. ("CIFI"), concerning the creation and establishment of the sweet potato processing business. Universal Leaf North America U.S., Inc. was also named in the suit.
Mr. Lee has issued the following statement for public release:
"Last spring I filed a lawsuit against Universal Corp., Universal Leaf North America, U.S., Inc., Carolina Innovative Food Ingredients and others involving a dispute about the creation of a business in eastern North Carolina to process sweet potatoes into food products. Since that time information has come to my attention that has caused me to conclude that I should dismiss the lawsuit, and my attorney has now done so. I would also like to withdraw the allegations that were made against my longtime friend and business colleague Clay Frazier, President of Universal Leaf North America."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- GNC Holdings (GNC) Says It's Pleased with DOJ Agreement
- PriceSmart (PSMT) Comps Fell 0.2% in November 2016
- NV5 Global (NVEE) Announces Acquisition of CivilSource
Create E-mail Alert Related CategoriesCorporate News, Litigation
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!