Fresh Del Monte Produce Will Vigorously Defend Meritless Antitrust Lawsuits.
CORAL GABLES, Fla.--(BUSINESS WIRE)--Jan. 6, 2004
Fresh Del Monte Produce Fresh Del Monte Produce (NYSE: FDP) is a major producer and distributor of fruit and other agricultural products.
The company came into existence in its current form in 1996, after a change of ownership. Inc. (NYSE NYSE
See: New York Stock Exchange :FDP FDP
fibrin (fibrinogen) degradation product. ), one of the world's largest producers and marketers of fresh produce, today announced that it intends to vigorously defend against two antitrust lawsuits that seek class action status. The lawsuits, each brought by a single wholesale purchaser, were filed in the United States District Court United States District Court
In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and in the United States District Court for the District of Massachusetts The United States District Court for the District of Massachusetts is the Federal district court whose jurisdiction is the Commonwealth of Massachusetts. The first court session was held in Boston in 1789. . The lawsuits have not been served upon the Company, although the Company has reviewed the complaints. The complaints allege that the Company monopolized or attempted to monopolize mo·nop·o·lize
tr.v. mo·nop·o·lized, mo·nop·o·liz·ing, mo·nop·o·liz·es
1. To acquire or maintain a monopoly of.
2. To dominate by excluding others: monopolized the conversation. the sale of extra-sweet pineapples in violation of U.S. antitrust law antitrust law
Any law restricting business practices that are considered unfair or monopolistic. Among U.S. laws, the best known is the Sherman Antitrust Act of 1890, which declared illegal “every contract, combination…or conspiracy in restraint of trade or by committing certain improper acts in connection with sale of its "Del Monte Gold(TM) Extra Sweet" pineapple in order to stifle competition. The Company strongly denies such allegations.
Fresh Del Monte believes that all aspects of the production and marketing of its "Del Monte Gold(TM) Extra Sweet" pineapple were proper and in full compliance with the U.S. antitrust laws, and that the allegations in the complaints are entirely without merit.
Fresh Del Monte is a leading vertically integrated producer and marketer of high quality fresh produce. The Company's primary products include bananas, pineapples, melons, specialty melons, tomatoes, potatoes, strawberries, onions, grapes, citrus, apples, pears, peaches, plums and plantains. The Company markets its products worldwide under the Del Monte(R) brand, a symbol of product quality and reliability since 1892.
This press release contains certain forward-looking statements regarding the intents, beliefs or current expectations of the Company or its officers with respect to various matters. These forward-looking statements are based on information currently available to the Company and the Company assumes no obligation to update these statements. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The Company's actual results may differ materially from those in the forward-looking statements as a result of various important factors, including those described under the caption "Key Information - Risk Factors" in Fresh Del Monte Produce Inc.'s Form 20-F for the year ended December 27, 2002.
Note to the Editor: This release and other press releases are available on the Company's web site, http://www.freshdelmonte.com.