Statement by International Aluminum Corporation -- Claims Against International Aluminum Are Without Merit.MONTEREY PARK, Calif. -- Monterey Park, CA-based International Aluminum Corporation (NYSE NYSE See: New York Stock Exchange :IAL IAL - ALGOL 58 ) today released the following statement in response to a recent press release issued by Eppsteiner & Smith, LLP LLP - Lower Layer Protocol and Milstein, Adelman & Kreger, LLP, two law firms representing the plaintiffs in a pending lawsuit against IAL. As IAL has previously reported, we believe the charges contained in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. now before the Solano County California Superior Court are without merit. The Court has allowed the lawsuit to proceed as a class-action at this time, but there has been no ruling by the Court on the merits on the merits adj. referring to a judgment, decision or ruling of a court based upon the facts presented in evidence and the law applied to that evidence. A judge decides a case "on the merits" when he/she bases the decision on the fundamental issues and considers of any of plaintiffs' claims. IAL denies the allegations made by plaintiffs and intends vigorously to contest their charges in the legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. . International Aluminum Corporation, founded and incorporated in 1963, is an integrated building products manufacturer of diversified lines of aluminum and vinyl products. Its primary markets are focused towards three distinct product lines: residential products consisting of broad lines of aluminum and vinyl windows and doors; commercial products encompassing state-of-the-art curtain walls, window walls, storefronts and other commercial framing components and aluminum extruded products which serve its residential and commercial products segments as well as a diversified outside customer base. Caution Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 relating to the exploration of strategic and financial alternatives and enhancement of shareholder value. There can be no assurance that this process will result in a transaction by IAL or enhanced shareholder value. IAL disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. |
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