RICHMOND, Va., Oct. 10, 2016 /PRNewswire/ -- Universal
Corporation (NYSE: UVV), (Universal), announced today the
September 29, 2016 dismissal of a
lawsuit filed in March 2016 by Mr.
William Frank Lee and his company,
Central Marketing, Inc., against Universal and its subsidiary,
Carolina Innovative Food Ingredients, Inc. ("CIFI"), concerning the
creation and establishment of the sweet potato processing
business. Universal Leaf North America U.S., Inc. was also
named in the suit.
Mr. Lee has issued the following statement for public
release:
"Last spring I filed a lawsuit against Universal Corp.,
Universal Leaf North America, U.S., Inc., Carolina Innovative Food
Ingredients and others involving a dispute about the creation of a
business in eastern North Carolina
to process sweet potatoes into food products. Since that time
information has come to my attention that has caused me to conclude
that I should dismiss the lawsuit, and my attorney has now done
so. I would also like to withdraw the allegations that were
made against my longtime friend and business colleague Clay Frazier, President of Universal Leaf North
America."
Headquartered in Richmond,
Virginia, Universal Corporation is the leading global leaf
tobacco supplier and conducts business in more than 30
countries. Its revenues for the fiscal year ended
March 31, 2016, were $2.1 billion. For more information on Universal
Corporation, visit its website at www.universalcorp.com.
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SOURCE Universal Corporation