Thursday March 12, 12:55 pm Eastern Time
Federal Jury Awards Mingo Bay $741,000
MYRTLE BEACH, S.C., March 12 - Brumo Products Inc., (Mingo
Bay Beverages) was awarded a judgement in the sum of $741,000 against
Cookbook Brands, Inc., of Ackworth, Georgia in the U.S. Federal District
Court in Florence, South Carolina on March 10, 1998. Brumo sued Cookbook
for breach of contract, interfering with prospective customers and unfair
competition. Cookbook was the manufacturer/packer of Mingo Bay labeled
products until early 1996.
''They cost our company a lot more than $741,000; however, this certainly
is sweet vindication,'' said Larry Moses, President/CE0 of Mingo Bay. Mingo
Bay Beverages Inc. trades on the OTC Bulletin Board under the symbol MGBA.
''This lawsuit was so complex that it was difficult to explain to
stockholders what they had done to us,'' said Moses.
''This judgement will allow Mingo Bay to fund its water bottling facility
in Kentucky as well as a 'Smokeless Cooker' that Mingo Bay is developing.
The company also has plans to buy back some of its common stock and retire
it in treasury. This should happen during the coming months,'' said Moses.
The Law Firm of Van Osdell, Lester and Howe of Myrtle Beach, SC represented
Mingo Bay and Cookbook was represented by the firm of Finkel and Altman of
Columbia and Georgetown, SC.
Mingo Bay is a manufacturer/distributor of shelf stable concentrated tea,
coffee, isotonics, bar mixes and juice products.
SOURCE: Mingo Bay Beverages, Inc. |
