RICHMOND, Va., April 21 /PRNewswire/ -- Fort James Corporation (NYSE: FJ)
today announced that the Supreme Court of Alabama upheld the dismissal of all
claims against Fort James in a class action suit filed by certain former
holders of Fort James' 10-3/4% debentures, due October 1, 2018.
In an opinion handed down on April 17, the Supreme Court of Alabama upheld
the June 1997 decision of the Circuit Court of Morgan County, Alabama,
granting summary judgement for Fort James and dismissing the action. The
class action, originally filed in 1994, alleged violations of certain
covenants and disclosure obligations in connection with the company's 10-3/4%
debentures, all of which were either retired in a tender offer or redeemed in
the fall of 1992. The class action sought damages in excess of $50 million
plus punitive damages in excess of $500 million.
Fort James is a leading international consumer products company, serving
consumers both at home and away-from-home with bathroom and facial tissue,
paper towels, napkins, and cups and plates. The company's popular brands
include Quilted Northern, Brawny, Dixie, Vanity Fair, Mardi Gras, Green
Forest, Soft 'N Gentle and So-Dri in North America and Lotus, Tenderly,
Colhogar and Kittensoft in Europe. Fort James also produces folding cartons
for packaging food and pharmaceuticals and communications papers such as
printing, publishing and office copy paper. With annual sales of
$7.3 billion, the company has approximately 29,000 employees and more than 65
manufacturing facilities in the U.S., Canada and 10 European countries.
Copies of today's news release, along with additional information on Fort
James, is available, at no charge, by calling 888-526-3711. You may also
access the company's Web site at Internet address http://www.fortjames.com.
SOURCE Fort James Corporation
 back to top
Related links:
http://www.fortjames.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 457350
CONTACT:
Celeste Gunter, Financial, 804-649-4307 or
Richard B. Elder, Media, 804-343-4785, both of Fort James
|
