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COURT REJECTS UNION SHAREHOLDER SUIT AGAINST FIELDCREST CANNON AND CEO FITZGIBBONS; ACTWU SUIT DISMISSED IN ENTIRETY

 NEW YORK, Sept. 15 /PRNewswire/ -- In response to inquiries, Fieldcrest Cannon, Inc. (NYSE: FLD) today confirmed the dismissal of a shareholder suit brought against the company and Chairman and Chief Executive Officer James M. Fitzgibbons by the Amalgamated Clothing and Textile Workers Union, AFL-CIO (ACTWU), which challenged the validity of the election of the Fieldcrest board of directors. The suit was dismissed in its entirety by U.S. District Judge Robert Owen and the appeal period has expired.
 Fieldcrest Cannon, Inc. manufactures and markets bed and bath products under the Fieldcrest, St. Marys, Cannon Royal Family, Cannon Monticello and private brand labels.
 -0- 9/15/93
 /CONTACT: Paul Verbinnen or Anna Cordasco of Sard Verbinnen & Co., 212-687-8080/
 (FLD)


CO: Fieldcrest Cannon, Inc.; Amalgamated Clothing and Textile Workers
 Union, AFL-CIO ST: North Carolina IN: TEX SU:


CK-LG -- NY064 -- 2299 09/15/93 14:10 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
Words:144
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