Class Action Against IHI Dismissed
RALEIGH, N.C., June 25 /PRNewswire/ -- A class action filed against International Heritage, Incorporated ("IHI") (NASDAQ:IHIN) on April 7, 1998 by former North Carolina Attorney General and Secretary of State Rufus Edmisten on behalf of approximately 150,000 individuals alleging that sales representatives were entitled to refunds of approximately $50 million to $250 million has been dismissed. After one day of depositions all parties agreed to dismiss the claims for less than $6,000.
Brent Wood, of Wood & Francis PLLC, counsel for IHI, said, "We were fully prepared to defend this civil action and all other similar civil actions." Stanley H. Van Etten, IHI President and CEO, commented, "This is just another victory on the journey to successfully resolve all outstanding issues."
SOURCE International Heritage, Incorporated
-0- 06/25/98
/CONTACT: Marks Carlton Lane, Director of Communications, International Heritage, Incorporated, 919-571-4646, ext. 1242 or E-Mail: mlane@teamihi.com/ |
