G. Willi-Food Receives Additional Purported Class Action Lawsuits;
February 25 2007 - 9:40AM
PR Newswire (US)
Company Believes Claims are Without Merit and Intends Vigorous
Defense YAVNE, Israel, February 25 /PRNewswire-FirstCall/ -- G.
Willi-Food International Ltd. (NASDAQ:WILC) (the "Company" or
"Willi Food"), one of Israel's largest food importers and a
single-source supplier of one of the world's most extensive range
of quality kosher food products, today announced that two
additional purported class action lawsuits had been filed against
the Company. The complaints allege that the Company misled its
customers by reducing the content in its tuna containers, and then
charging its customers the same price as before. The complaints, if
recognized as class actions, allege damages of approximately NIS
4.48 million (approximately US$1.07 million), in the case of one
claim, and approximately NIS 3.92 million (approximately US$0.93
million) in the case of the second claim (half of the alleged
damages of each claim relate to return of the overcharge and the
other half for additional compensation). The complaints have been
filed by the same law firm. The Company believes that the
complaints are without merit and intends to vigorously defend
against the litigation. About G. Willi-Food International, Ltd. G.
Willi-Food International Ltd. is one of Israel's largest food
importers and a single-source supplier of one of the world's most
extensive ranges of quality kosher food products. It currently
imports, markets and distributes more than 400 food products
manufactured by some 100 top-tier suppliers throughout the world to
more than 1,000 customers. The Company excels in identifying
changing tastes in its markets and sourcing high-quality kosher
products to address them. For more information, please visit the
Company's website at http://www.willi-food.co.il/. This press
release contains forward-looking statements within the meaning of
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 relating to future events or our future performance,
such as statements regarding trends, demand for our products and
expected revenues, operating results, and earnings. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied in those forward-looking statements. These
risks and other factors include but are not limited to: changes
affecting currency exchange rates, including the NIS/U.S. Dollar
exchange rate, payment default by any of our major clients, the
loss of one of more of our key personnel, changes in laws and
regulations, including those relating to the food distribution
industry, and inability to meet and maintain regulatory
qualifications and approvals for our products, termination of
arrangements with our suppliers, in particular Arla Foods amba,
loss of one or more of our principal clients, increasing levels of
competition in Israel and other markets in which we do business,
changes in economic conditions in Israel, including in particular
economic conditions in the Company's core markets, our inability to
accurately predict consumption of our products and risks associated
with product liability claims. We cannot guarantee future results,
levels of activity, performance or achievements. The matters
discussed in this press release also involve risks and
uncertainties summarized under the heading "Risk Factors" in the
Company's Annual Report on Form 20-F for the year ended December
31, 2005, filed with the Securities and Exchange Commission on May
31, 2006. These factors are updated from time to time through the
filing of reports and registration statements with the Securities
and Exchange Commission. We do not assume any obligation to update
the forward-looking information contained in this press release.
Contact: G. Willi Food International Ltd. Chen Shlein, CFO
(+972)-8-932-2233 IR contact: The Global Consulting Group
Christopher Chu +1-(646)-284-9426 DATASOURCE: G Willi Food
International Ltd CONTACT: Contact: G. Willi Food International
Ltd., Chen Shlein, CFO, (+972)-8-932-2233, . IR contact: The Global
Consulting Group, Christopher Chu, +1-(646)-284-9426,
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