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FEDERAL COURT CLEARS MICHAEL FOODS OF ALLEGED SECURITIES LAWS VIOLATIONS

FEDERAL COURT CLEARS MICHAEL FOODS OF ALLEGED SECURITIES LAWS VIOLATIONS
 MINNEAPOLIS, Sept. 3 /PRNewswire/ -- Michael Foods, Inc., (NASDAQ-NMS: MIKL) today announced that a federal court jury in Minneapolis found that the company and its officers and directors did not violate federal securities laws in connection with 1989 press releases and public statements associated with its Easy Eggs(R) product. The case was a class action by three purchasers of Michael Foods stock. The plaintiffs had claimed that the company and active officers and directors had committed a "fraud on the market."
 Michael Foods is a diversified food processor and distributor with particular interests in egg products, refrigerated grocery products, frozen and refrigerated potato products, specialty dairy products and refrigerated soups and salads. Principal subsidiaries include M.G. Waldbaum Company; Crystal Farms Refrigerated Distribution Company; Northern Star Co.; Kohler Mix Specialties, Inc.; and Sunnyside Vegetable Packing, Inc.
 -0- 9/3/92
 /CONTACT: Mark D. Witmer, director of corporate communications for Michael Foods, 612-546-1500/
 (MIKL) CO: Michael Foods, Inc. ST: Minnesota IN: FOD SU:


AL -- MN016 -- 6698 09/03/92 17:48 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
Words:181
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