Securities Lawsuit Against Family Dollar Voluntarily Dismissed
Family Dollar (NYSE: FDO) announced today that a lawsuit filed in February 2013 by plaintiff Pipefitters Local No. 636 alleging that Family Dollar violated federal securities laws has been voluntarily dismissed by the plaintiff. Family Dollar had asked the Court to dismiss the case, but before the Court ruled on that request, the plaintiff agreed to abandon its claims. Family Dollar paid no money to the plaintiff and made no concessions.
“We believed that the lawsuit was without merit, and we are pleased that the plaintiff agreed to dismiss the suit on its own without having to further waste the courts' and Family Dollar's resources to demonstrate that the case was baseless,” said James C. Snyder, Jr. SVP –General Counsel and Secretary.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.