UPDATE 2-Fresh Del Monte wins dismissal of pineapple lawsuit

Wed Sep 30, 2009 9:22pm BST
[-] Text [+]

* Judge dismisses long-running anti-trust lawsuit

* Plaintiffs contended Fresh Del Monte drove up prices

* Fresh Del Monte shares close down 15 cents (Adds comment by Fresh Del Monte lawyer, closing prices)

By Jonathan Stempel

NEW YORK, Sept 30 (Reuters) - A federal judge dismissed a class-action lawsuit accusing Fresh Del Monte Produce Inc (FDP.N: Quote, Profile, Research) of violating antitrust law by using monopoly power to charge excessive prices on a sweet variety of pineapple.

Wednesday's ruling by U.S. District Judge Richard Berman rejected claims brought on behalf of retailers such as Publix Super Markets and Whole Foods Market Inc (WFMI.O: Quote, Profile, Research), as well as consumers, who bought the "Fresh Del Monte Gold" pineapples beginning in 1996.

"We are very gratified that after more than 5-1/2 years of litigation, Judge Berman correctly concluded that there was no basis to the plaintiffs' claims that Del Monte acted improperly in bringing to market and selling its pineapple," said Carlos Sires, a partner at Boies, Schiller & Flexner LLP in Fort Lauderdale, Florida, who represented Del Monte.

A lawyer for the pineapple purchasers did not immediately return a request for comment.

The purchasers complained that Del Monte Fresh Produce Co, a unit of Fresh Del Monte, issued false and misleading "threat letters" to competitors that said its extra-sweet pineapple, described in court papers as "revolutionary," was patented.  Continued...

 
FDP.N
Last:
Change:
Up/Down:
 
by Name by Symbol