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MINNEAPOLIS - National food retailer and distributor Nash Finch Co. said yesterday that the U.S. District Court for the District of Minnesota has dismissed with prejudice the securities class action filed against the company and some of its executive officers in June 2003, which consolidated eight separate class actions previously filed in late 2002 and early 2003.
The consolidated action alleged that the defendants violated the Securities Exchange Act of 1934 by purportedly issuing false statements about the company's business and financial results in connection with vendor promotions.
In addition, the consolidated shareholder derivative actions that were filed in Minnesota state court against Nash Finch's board of directors and some officers have also been dismissed with prejudice. The derivative actions arose out of the same set of allegations as the federal action. The dismissals are subject to appeal.