Minneapolis-based retailer Supervalu has been accused of certain violations of the federal securities laws by a purported class action filed by a Pennsylvania law firm.
Go deeper with GlobalData
Schiffrin & Barroway said in a press release on Friday that it filed the lawsuit in the District of Minnesota court on behalf of Supervalu common stock purchasers from 4 April 2001, through 26 June 2002.
The complaint alleges that certain Supervalu officers filed “materially false and misleading” statements regarding its finances with the Securities and Exchange Commission (SEC),
Supervalu responded saying that the lawsuit is “completely without merit” and added that it “intends to vigorously defend the action”.
“Management believes that the company has always acted with integrity and in compliance with its legal disclosure obligations,” it added.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
