FM wins settlement! $58.5 million, about $30 million after litigation costs and taxes.
>>Company Press Release
Foodmaker, Inc. Receives $58.5 million in Hamburger Patty Cases Settlement
SAN DIEGO--(BUSINESS WIRE)--Feb. 24, 1998--Foodmaker, Inc., operator and franchiser of Jack in the Box(R) restaurants, today announced that it has received $58.5 million in settlement of all legal claims in the ''Hamburger Patty Cases'' stemming from a 1993 foodborne-illness outbreak in the Pacific Northwest.
Of the total settlement amount, Foodmaker is expected to realize a net of slightly over $30 million after taxes and litigation costs.
The other parties to the litigation included Beef Packers, Inc., Cattleman's Choice, Fresno Meat Company, Monfort, Inc., Orleans International, Inc., RBR Meat Company, Service Packing Company, The Vons Companies, Inc., and Westland, Inc., among others.<<
biz.yahoo.com |
