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Continental Materials Named In Shareholders' Suits

CHICAGO, Nov. 22 /PRNewswire/ -- Continental Materials Corporation (AMEX: CUO) announced today that it has been named, along with its directors, as a defendant in three purported class action complaints filed by three shareholders in the Delaware Court of Chancery. Each of the lawsuits seeks to enjoin the company from consummating a "going private" transaction with a shareholder group consisting of the company's Chief Executive Officer, Mr. James G. Gidwitz, and other members of his family, and also requests rescission and damages in the event the transaction is consummated and other relief. The company is reviewing the complaints.

SOURCE Continental Materials Corporation
 -0- 11/22/96


/CONTACT: Joseph Sum of Continental Materials, 312-541-7222/

(CUO)

CO: Continental Materials Corporation ST: Illinois IN: SU:

KE -- DEF033 -- 5940 11/22/96 15:17 EST http://www.prnewswire.com
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Publication:PR Newswire
Date:Nov 22, 1996
Words:134
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