CAMDEN, N.J., Sep 13, 2005 (BUSINESS WIRE) — Campbell Soup Company (NYSE:CPB) today issued the
following statement on the decision by the United States District
Court for the District of Delaware in VFB L.L.C. v. Campbell Soup
Company, a lawsuit brought against Campbell and several of its
subsidiaries in February 2002 by an entity representing the interests
of the unsecured creditors of Vlasic Foods International:
“The District Court has ruled in favor of Campbell, finding that
Vlasic Foods, a company spun off by Campbell in March 1998, was
solvent at the time of the spin off transaction, and that Campbell is
not liable to the plaintiff for the claims of Vlasic’s unsecured
creditors or for any other claims or damages. We are gratified by this
decision. We believed that when all the facts were known and the trial
was concluded, our position would be confirmed.”
Campbell is represented in this matter by Wachtell, Lipton, Rosen
& Katz and Blank Rome LLP. VFB L.L.C. has 30 days to file an appeal.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of
high quality simple meals, including soup, baked snacks,
vegetable-based beverages, and premium chocolate products.
Founded in 1869, the company has a portfolio of more than 20
market-leading brands, including “Campbell’s,” “Pepperidge Farm,”
“Arnott’s,” “V8,” and “Godiva.” For more information on the company,
visit Campbell’s website at www.campbellsoupcompany.com.
SOURCE: Campbell Soup Company
Campbell Soup Company
Jerry S. Buckley (Media)
Leonard F. Griehs (Analysts)
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