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BALA CYNWYD, Pa. - The law firm of Schiffrin & Barroway in Bala Cynwyd, Pa., on Tuesday filed a class-action shareholder lawsuit against Fleming Cos., alleging that the company made "false and misleading statements" about the performance of its retail division, which served to inflate the price of its stock. The suit follows at least two other class-action lawsuits recently filed against the wholesale food distributor.
The latest lawsuit was filed in the United States District Court for the Eastern District of Texas, Texarkana Division.
Fleming issued a press release last week stating it believes that such lawsuits are "baseless and without merit" and that "solicitation of clients is merely an effort to participate in a typical contingency-fee class action." Fleming maintains that it has acted, and continues to act, in compliance with federal securities laws.