Suit Against Lancer Dropped
04 Agosto 2004 - 11:45PM
PR Newswire (US)
Suit Against Lancer Dropped SAN ANTONIO, Aug. 4
/PRNewswire-FirstCall/ -- Lancer Corporation (AMEX:LAN) today
announced that the purported class action lawsuit filed against it
on May 14, 2004 by TDH Partners, has been voluntarily dismissed by
the plaintiff, without prejudice. The filing of the lawsuit by TDH
Partners had resulted in the issuance of several press releases by
other plaintiff law firms attempting to participate in the single
lawsuit. Lancer was never served with the lawsuit. To Lancer's
knowledge, no other class action litigation or shareholder lawsuit
has been filed against the Company. The voluntary dismissal of the
purported class action by the plaintiffs follows the news that BDO
Seidman, LLP, Lancer's independent auditor, had completed its
reaudit of Lancer's financial statements for the years ended
December 31, 2000, 2001 and 2002, and that the reaudit did not
result in any change in the previously disclosed financial
statements. The results of the reaudit were originally disclosed by
Lancer in a news release dated July 1, 2004. Lancer Corporation is
a leading innovator, manufacturer and marketer of beverage
dispensing systems serving customers worldwide. Headquartered in
San Antonio, Texas, Lancer also maintains facilities in Mexico,
Australia, Belgium, New Zealand and the United Kingdom. Lancer is a
vertically integrated manufacturer with 2003 sales of $113 million,
and employing approximately 1,400 people. Lancer designs and
manufacturers a complete range of fountain soft drink dispensers,
frozen beverage dispensers, dispensing valves, beer dispensing
equipment, and an extensive line of beverage dispensing parts and
accessories, which are marketed through a network of Company sales
representatives and authorized distributors. This press release
contains various forward-looking statements and information that
are based on management's belief as well as assumptions made by and
information currently available to management. Although the Company
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Such statements
contain certain risks, uncertainty and assumptions. Should one or
more of these risks materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
expected. Contact: Scott Adams 210-310-7065 DATASOURCE: Lancer
Corporation CONTACT: Scott Adams of Lancer Corporation,
+1-210-310-7065 Web site: http://www.lancercorp.com/
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