WINDEMERE CORP. SAYS APPEAL BY JAPANESE COMPANY TO U.S. SUPREME COURT WILL NOT EFFECT ITS SETTLEMENT WITH NORTH AMERICAN PHILIPS
MIAMI LAKES, Fla., Feb. 26 /PRNewswire/ -- Windmere Corporation (NYSE: WND) said today that a Japanese company's appeal before the United States Supreme Court related to a specific aspect of Windmere's antitrust lawsuit with North American Philips will not have any impact on Windmere's previously reported settlement with North American Philips. Windmere settled with North American Philips for a cash payment of $57 million, which was received in May 1992.
Windmere Corporation noted the appeal centers on the United States Court of Appeals for the Federal Circuit decision to vacate the lower court's judgments relating to the anti-trust and unfair competition aspects of Windmere's litigation with North American Philips.
Responding to a story published today in the Miami Herald, Windmere Corporation noted that the appeal to the Supreme Court was initiated by the Japanese company that opposed the Appellate Court's decision to vacate the judgment. Windmere is a leading manufacturer and distributor of personal care products and other merchandise for the home and professional salons, including hairdryers, curling irons, kitchen appliances, and dental care appliances. -0- 2/26/93 /CONTACT: John Heinlein, treasurer of Windmere Corporation, 305-362-2611, or Steven J. Barach of G. A. Kraut Company, 212-696-5600, for Windmere Corporation/ (WND)
CO: Windmere Corporation ST: Florida IN: HOU SU:
TS-AH -- NY017 -- 0795 02/26/93 10:50 EST
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|Date:||Feb 26, 1993|
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