Printer Friendly

F&C INTERNATIONAL, INC. ANNOUNCES LAWSUIT FILED AGAINST FORMER PRESIDENT, CHIEF EXECUTIVE OFFICER AND CHAIRMAN OF THE BOARD

 CINCINNATI, April 5 /PRNewswire/ -- Fletcher N. Anderson, president and chief executive officer of F&C International, Inc. (NASDAQ: FCIN), Cincinnati, today announced that on April 4, 1993 the company filed a lawsuit against Jon P. Fries, the former president, chief executive officer and chairman of the board of F&C International, Inc.
 The complaint against Fries, filed in the Hamilton County Court of Common Pleas, alleges that Fries directed and acquiesced in conduct designed to manipulate the company's inventory and inflate the company's sales for the purpose of inflating the company's profits and borrowing power. The company alleges four causes of action against Fries: fraud, breach of fiduciary duty, causing false statements to be made, and negligent misrepresentation. The company currently seeks judgment in its favor, an award of compensatory, punitive and liquidated damages, interest, costs and attorney fees.
 The board of directors removed Fries as chairman of the board of directors and the company terminated Fries on Friday, April 2. The company is continuing to investigate any and all possible misconduct directed or acquiesced by Fries.
 F&C International is traded on the NASDAQ National Market System under the symbol "FCIN." F&C International is a creator and manufacturer of flavors and fragrances used by producers in the food, beverage, tobacco, personal care, household, institutional and pharmaceutical industries to impart or improve flavor or fragrance in a wide variety of consumer products.
 -0- 4/5/93
 /CONTACT: Fletcher N. Anderson of F&C International Inc., 513-782-5085/
 (FCIN)


CO: F&C International, Inc. ST: Ohio IN: CHM SU:

BM -- CL005 -- 2897 04/05/93 09:15 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 5, 1993
Words:267
Previous Article:HOOVER'S LARGEST ADVERTISING INVESTMENT EVER WILL CONTINUE BUILDING BRAND RECOGNITION
Next Article:HEALTH SYSTEM REFORM LIKELY TO POSE FAR MORE COMPLEX LEGAL CHALLENGES TO LARGE COMPANIES THAN ANY PREVIOUS FEDERAL LAW
Topics:


Related Articles
REXENE ANNOUNCES CONFIRMATION OF PLAN OF REORGANIZATION
JLG INDUSTRIES MANAGEMENT OPPOSES GROVE LAWSUIT
GOULDS PUMPS ANNOUNCES DISMISSAL OF LEGAL COMPLAINT
Storm Technology, Inc. Responds to Shareholder Complaint
Patrick R. Scanlon appointed President and COO of CS International
PLM International Announces Retirement of Two Directors
BioSource International Continues Stock Buyback Program, Board Authorizes Purchase of Additional 250,000 Shares
Energizer Holdings, Inc. Completes Spin-Off From Ralston Purina Company; Energizer Announces Board of Directors and Executive Officers.
NAI Announces Counter Suit and Response to Its Former President's Lawsuit.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters