ANTITRUST CLAIM DISMISSED AGAINST GLACIER WATER SERVICES INC.
OCEANSIDE, Calif., Jan. 7 /PRNewswire/ -- Glacier Water Services Inc. (AMEX: HOO) today announced that the Florida Circuit Court has dismissed the antitrust claim against Glacier in a previously announced lawsuit brought by the former president of National Water Services Inc. The dismissed count alleged that Glacier conducted marketing and pricing practices in violation of the Florida Antitrust Act. The Court has not yet ruled on the remaining count against Glacier, which alleges that Glacier acted as an agent of National to breach the former president's employment agreement with National. Glacier continues to defend the action consistent with prudent business practices and, after consultation with legal counsel, believes that the allegations are without merit. Company management does not expect that the lawsuit will have a material adverse effect on its results on operations, liquidity, financial condition or business. Glacier Water Services is the leading provider of low-price, high- quality drinking water dispensed to consumers through coin-operated, self-service vending machines that are designed, developed and assembled by the company. The company's machines are currently located at supermarkets and other retail locations in California, Arizona, Nevada, Texas and Florida. -0- 1/7/94 /CONTACT: Kathleen M. Fisher, VP-Finance, 619-433-4072/ (HOO)
CO: Glacier Water Services Inc.; National Water Services Inc. ST: California, Florida IN: FOD SU:
LS-JL -- SD001 -- 0077 01/07/94 10:32 EST
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|Date:||Jan 7, 1994|
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