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|Blue Buffalo Announces Agreement to Settle Class Action Lawsuits|
The plaintiffs in the lawsuits claim, among other things, that certain Blue Buffalo products were not consistent with the “True Blue Promise.” Blue Buffalo denies any wrongdoing, and has agreed to this settlement to eliminate the uncertainties, burden and expense of further litigation.
Under the terms of the agreement, Blue Buffalo will pay
“More than a year ago, we informed our Pet Parents about the misconduct of a former ingredient supplier and a broker. While we will continue to pursue our claims against them, we decided that it is in the best interest of our Pet Parents and our company to resolve the class actions now. All of us at Blue Buffalo continue to work tirelessly to make pet food with the finest natural ingredients for our furry family members,” said
The settlement agreement is subject to preliminary and final approval by the court.
In connection with the proposed settlement, the Company expects to record a pre-tax charge of
About Blue Buffalo
Blue Buffalo, based in
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to the expectations regarding the settlement of certain class action lawsuits brought on behalf of consumers against the Company. You can identify these forward-looking statements by the use of words such as “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent in the litigation process. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company's filings with the
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