US: Coca-Cola lawsuit dismissed - report
The Coca-Cola Co. has had a shareholder lawsuit in the US dismissed after it was alleged that it used its control over its bottler Coca-Cola Enterprises in an effort to to maximise profits, according to reports.
As cited by the Associated Press, a court in Delaware ruled last week that, under a 1986 master agreement between Coca-Cola and CCE, actions challenged by the International Brotherhood of Teamsters are allowed and are thus barred by a three-year statute of limitations.
The plaintiffs alleged that Coca-Cola engaged in pushing large volumes of concentrate to CCE to meet sales targets, forcing the bottler to change plans for its Rocky Mountain division, which resulted in reduced projected profits.
The judge was cited as having decided that Coca-Cola, which owns 35% of the bottler's shares, had "every right" to revise prices, terms of payment and other conditions in supplying the bottler with syrup and concentrate, and that those changes could take effect immediately upon notice to the bottler, the news service said.
"The plaintiffs have railed against particular actions that have occurred in the last three years, but those actions were the foreseeable results of a contract formed in 1986," the news service cited the judge as saying.
No-one was immediately available for comment at Coca-Cola when contacted by just-drinks today (23 October).
The judge allegedly added: "The plaintiffs have railed against particular actions that have occurred in the last three years, but those actions were the foreseeable results of a contract formed in 1986."
PepsiCo is aiming to become the largest beverage company in Russia and its recent acquisition of a majority stake in the juice company, JSC Lebedyansky, represents an important step towards achieving ...
The Coca-Cola Co. will continue to sponsor the torch relay as part of the run-up to the summer Olympics in Beijing, despite protesters opposed to China's policies in Tibet....
The Coca-Cola Co. has been given the go-ahead by the Indian government to invest in its soft drinks arm in India....
The board of directors of The Coca-Cola Company yesterday (17 April) declared a regular quarterly dividend of 38 cents per common share. The dividend is payable 1 July 2008, to shareowners of record a...
The Coca-Cola Co. has reported a lift in quarterly profit due to strong international sales offsetting slower sales in North America's "challenging economic climate"....
Moscow police are looking for the murderers of the Russian Juice Producers Union's president, who was beaten to death by masked attackers last weekend, according to local reports....
The Coca-Cola Co. has secured a placing for its Odwalla juice drinks portfolio in Caribou Coffee shops in the US....
The top ten most visited stories on just-drinks this week:...
- Whatever happened to binge Britain? - comment
- How to turn a domestic spirit into a global brand
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- The dangers of squaring up to your competitor
- Diageo sells off United Spirits' Bouvet Ladubay
- Sidney Frank CEO to head Clooney's import co
- Captain Morgan distillation trial queried by USVI
- Sazerac sues Brown-Forman over Tennessee Fire
- Irish whiskey brands could fail without bulk
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts