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A lawsuit filed in 2013 by Texas-based Excentus Corp. against Giant Eagle Inc. and David and Dan Shapira has been dismissed with prejudice by agreement of the parties.
Giant Eagle special counsel Dan Shapira said: "We are pleased that the lawsuit and charges brought by Excentus against Giant Eagle, me and my brother David Shapira have been resolved to our satisfaction, releasing both us individually and Giant Eagle from this matter."
With the near two-year matter behind it, David Shapira, executive chairman of Giant Eagle's board of directors, is looking forward to a fresh start and renewed focus on future growth opportunities. “With new management at Excentus, and with this litigation behind us, we are eager to direct our full focus toward implementing a successful go-forward strategy with our long-time partner," said Shapira.
Brandon Logsdon, Excentus Corp.'s current president and CEO, further noted: “We now have the opportunity to capitalize on the strengths of our two organizations to continue building toward our mutual goal – bringing valuable rewards to our customers and members nationwide. We have done business with Giant Eagle for many years, and we are very pleased that our strategic relationship will continue to evolve and expand.”
Giant Eagle Inc., ranked 33 on Forbes magazine’s largest private corporations list, is one of the nation’s largest food retailers and distributors with approximately $9.9 billion in annual sales. The Pittsburgh-based multi-format retailer has 417 stores throughout western Pennsylvania, Ohio, northern West Virginia and Maryland.
Dallas-based Excentus Corp. is the creator of and patent-holder for marketing programs and services that utilize price roll down discounts at the pump as the ultimate consumer reward. Founded in 1996, the privately held company holds nine patents on the technology behind the cents-per-gallon model and licenses various uses of its patent portfolio to provide private label fuel discount programs through its business unit, Centego II, LLC.