Fruit of the Loom Verdict
42 million dollars has been awarded to plaintiffs by a federal judge. The verdict was against Fruit of the Loom.
Fruit of the loom was acsuced of lying to financial analysts in an effort to increase stock value. The people and agencies who purchased stock in the mid 90’s filed the class action suit against the company.
Two settlements were delivered, one for the stock purchased from july,96 to september 97 for 23 million, and the other settlement of 19 million for the purchases made from setember 98, through november 99.
More than 28,000 were involved in the lawsuit.
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