On May 22, 2001, the Court granted the motion to appoint lead plaintiff and co-lead counsel. On June 29, 2001, an Amended Class Action Complaint was filed, and on July 2, 2001, a Corrected Amended Class Action Complaint was filed. On October 12, 2001, the defendants filed a motion to dismiss the complaint. On January 24, 2002, the Court entered the Opinion and Order signed by U.S. District Judge Joseph E. Irenas granting the motion to dismiss the amended class action complaint. The case was closed. On February 1, 2002, the Court entered Judge Irenas’ Amended Opinion.
In a press release dated June 4, 2001, the law firms of Berger & Montague, P.C. and Stull Stull & Brody announce that on May 22, 2001, Judge Joseph E. Irenas of the United States District Court, District of New Jersey, in Camden, appointed them co-counsel for the lead plaintiffs in the class action captioned Wilson v. Vlasic Foods International, Inc., Civil Action No. 01-0272 (JEI). The Complaint against Vlasic Foods International, Inc. ("Vlasic" or "the Company") (NYSE: VL; OTC Bulletin Board: VLFIQ) was administratively terminated following the Company's filing of a bankruptcy petition but continues against certain persons who were officers and/or
directors of Vlasic during the Class Period of February 24, 1999, through and including February 10, 2000. The claims in the Complaint arise under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder.
NOTE: On January 29, 2001 Vlasic Foods International Inc. and all of its United
States operating subsidiaries filed voluntary petitions for reorganization
relief in the U.S. District Court in Wilmington, Delaware, pursuant to Chapter
11 of the U.S. Bankruptcy Code.