G. Willi-Food Receives a Purported Class Action Lawsuit
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YAVNE, Israel, April 20 /PRNewswire-FirstCall/ -- G. Willi-Food
International Ltd. (NASDAQ: WILC) (the "Company" or "Willi Food"), announced
today that on April 16, 2009 it had been served with a purported class action
lawsuit which had been filed against the Company. The complaint alleges that
the Company misled its customers by illegal marking of a product that the
Company imports and sells as "suger free", according to The Israeli Consumer
Protection Law, 1981.
The group which the lawsuit desires to represent are any Israeli resident
who bought this product due to such person's preference for a suger free or a
reduced suger product (the "Group"). According to the plaintiff, the Group
consists of 2,000 customers. The plaintiff appraises its own damages at NIS
2,000 (approximately USD 500) and the damages of the entire Group to be NIS 4
million (approximately USD 1 million).
At this preliminary stage, the Company is examining the plaitiff's
alleged claims, and it will respond and relate to the allegations, to the
extent necessary, after its examination and after consulting with its legal
advisors.
About G. Willi-Food International, Ltd.
G. Willi-Food International Ltd. is one of Israel's largest food
importers and a single-source supplier of one of the world's most extensive
ranges of quality kosher food products. It currently imports, markets and
distributes more than 2,500 food products manufactured by some 120 top-tier
suppliers throughout the world to more than 1,500 customers. Willi-Food
excels in identifying changing tastes in its markets and sourcing
high-quality kosher products to address them. The Company also operates
several subsidiaries: its subsidiary, Gold Frost Ltd., develops and
distributes kosher chilled and frozen dairy food products internationally
together with its Danish dairy distributor subsidiary; the joint venture with
the Baron Family engages in the global import, export and distribution of
kosher products worldwide; and Shamir Salads is a leading international
manufacturer and distributor of pre-packaged chilled Mediterranean dips and
spreads. For more information, please visit the Company's website at
http://www.willi-food.co.il.
This press release contains forward-looking statements within the meaning
of safe harbor provisions of the Private Securities Litigation Reform Act of
1995 relating to future events or our future performance, such as statements
regarding trends, demand for our products and expected revenues, operating
results, and earnings. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be materially different
from any future results, levels of activity, performance or achievements
expressed or implied in those forward-looking statements. These risks and
other factors include but are not limited to: changes affecting currency
exchange rates, including the NIS/U.S. Dollar exchange rate, payment default
by any of our major clients, the loss of one of more of our key personnel,
changes in laws and regulations, including those relating to the food
distribution industry, and inability to meet and maintain regulatory
qualifications and approvals for our products, termination of arrangements
with our suppliers, in particular Arla Foods, loss of one or more of our
principal clients, increasing levels of competition in Israel and other
markets in which we do business, changes in economic conditions in Israel,
including in particular economic conditions in the Company's core markets,
our inability to accurately predict consumption of our products and risks
associated with product liability claims. We cannot guarantee future results,
levels of activity, performance or achievements. The matters discussed in
this press release also involve risks and uncertainties summarized under the
heading "Risk Factors" in the Company's Annual Report on Form 20-F for the
year ended December 31, 2007, filed with the Securities and Exchange
Commission. These factors are updated from time to time through the filing of
reports and registration statements with the Securities and Exchange
Commission. We do not assume any obligation to update the forward-looking
information contained in this press release.
Company Contact:
G. Willi Food International Ltd.
Ety Sabach, CFO
+972-8-932-1000
ety@willi-food.co.il
SOURCE G. Willi-Food International Ltd
Company Contact: G. Willi Food International Ltd., Ety Sabach, CFO,
+972-8-932-1000, ety@willi-food.co.il
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