Yavne, July 3 - G. Willi-Food International Ltd., one of Israel's largest food importers and a single-source supplier of one of the world's most extensive range of quality kosher food products, today announced that it had signed a Settlement Agreement pertaining to the three lawsuits and the demand to approve them as class actions referred to in the Company's press releases from December 11, 2006 and February 25, 2007, which were filed against the Company by three plaintiffs regarding the matter of reduced contents of the Company's tuna containers.
Under the Settlement Agreement, the Company has denied all wrongdoing and will carry out a special discount sale (the "Sale") of 480,000 cans of tuna that will all contain roughly an additional one-third of an ounce of tuna, or approximately 7% more tuna, than usually marketed. These larger cans of tuna will have the same price as the usual cans of tuna, but will be labeled as discounted. The Company will be entitled to advertise the sale at its own discretion.
According to the Settlement Agreement, the Company agreed to pay the Plaintiff's and their attorneys approximately NIS 50,000 (approximately USD 15,000) for their legal costs.
The Settlement Agreement is subject to the approval of the District Court of Tel-Aviv.
The remaining two lawsuits and the demand to approve them as class actions filed against the Company by two plaintiffs and described in the Company's press release from January 2, 2007 - have been dismissed.