Lancer (AMEX:LAN)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Lancer Charts. Click Here for more Lancer Charts.](/p.php?pid=staticchart&s=A%5ELAN&p=8&t=15)
Suit Against Lancer Dropped
SAN ANTONIO, Aug. 4 /PRNewswire-FirstCall/ -- Lancer Corporation (AMEX:LAN)
today announced that the purported class action lawsuit filed against it on May
14, 2004 by TDH Partners, has been voluntarily dismissed by the plaintiff,
without prejudice. The filing of the lawsuit by TDH Partners had resulted in
the issuance of several press releases by other plaintiff law firms attempting
to participate in the single lawsuit. Lancer was never served with the
lawsuit.
To Lancer's knowledge, no other class action litigation or shareholder lawsuit
has been filed against the Company.
The voluntary dismissal of the purported class action by the plaintiffs follows
the news that BDO Seidman, LLP, Lancer's independent auditor, had completed its
reaudit of Lancer's financial statements for the years ended December 31, 2000,
2001 and 2002, and that the reaudit did not result in any change in the
previously disclosed financial statements. The results of the reaudit were
originally disclosed by Lancer in a news release dated July 1, 2004.
Lancer Corporation is a leading innovator, manufacturer and marketer of
beverage dispensing systems serving customers worldwide. Headquartered in San
Antonio, Texas, Lancer also maintains facilities in Mexico, Australia, Belgium,
New Zealand and the United Kingdom. Lancer is a vertically integrated
manufacturer with 2003 sales of $113 million, and employing approximately 1,400
people. Lancer designs and manufacturers a complete range of fountain soft
drink dispensers, frozen beverage dispensers, dispensing valves, beer
dispensing equipment, and an extensive line of beverage dispensing parts and
accessories, which are marketed through a network of Company sales
representatives and authorized distributors.
This press release contains various forward-looking statements and information
that are based on management's belief as well as assumptions made by and
information currently available to management. Although the Company believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove to have
been correct. Such statements contain certain risks, uncertainty and
assumptions. Should one or more of these risks materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from
those expected.
Contact:
Scott Adams
210-310-7065
DATASOURCE: Lancer Corporation
CONTACT: Scott Adams of Lancer Corporation, +1-210-310-7065
Web site: http://www.lancercorp.com/