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US: Primo Water to defend itself in court action

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Primo Water Corp has said it will "vigorously" defend itself against a lawsuit filed in the US by a number of investors.

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Earlier this week, an investor filed a lawsuit against Primo Water for issuing what it claims are "misleading statements" regarding the company's business and prospects. Robbins Geller Rudman & Dowd filed the lawsuit on behalf of its client, charging the company and a number of its directors with violations to the Securities Act of 1933 and the Securities Exchange Act of 1934.

Since then, a number of other investors have also filed lawsuits against the firm.

However, in a statement today (7 December), Primo Water said that it intends to "vigorously defend recent allegations against the company" and that it believes the claims are "without merit".

Primo recently secured a credit facility, providing the water firm with access to up to US$25m.


Sectors: Soft drinks, Water

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