Albertsons Companies Issues Statement Regarding the Denial of a Request for Preliminary Injunction by the Attorney General of the State of Washington and Extension of the Temporary Restraining Order on its Special Dividend Payment
10 Dezember 2022 - 4:07AM
Business Wire
Albertsons Companies (NYSE: ACI) (“Albertsons Cos.” or “the
Company”) today announced that the Washington State Court has
denied the request for a preliminary injunction by the Attorney
General of the State of Washington against the previously announced
$6.85 per common share Special Dividend (the “Special Dividend”)
originally scheduled to be paid on November 7, 2022, to
stockholders of record as of the close of business on October 24,
2022. The Washington State Court has extended the existing
temporary restraining order (“TRO”) until 4:30 p.m. PST on December
19, 2022, to give the Attorney General of the State of Washington
an opportunity to appeal today’s ruling.
Albertsons Cos. awaits a ruling on the request for a preliminary
injunction filed December 1, 2022, by the California, Illinois and
District of Columbia Attorneys General against the payment of the
Special Dividend. On November 8, 2022, the U.S. District Court for
the District of Columbia denied their request for a temporary
restraining order against the payment of the Special Dividend.
Albertsons Cos. continues to believe that the claim brought by
the Attorney General of the State of Washington, and the similar
lawsuit brought by the Attorneys General of California, Illinois,
and the District of Columbia, is meritless and provides no legal
basis for preventing the payment of a dividend that has been duly
and unanimously approved by Albertsons Cos.’ fully informed Board
of Directors.
Albertsons Cos.’ proposed merger with The Kroger Co. is
continuing through required regulatory review, including seeking
clearance under the Hart-Scott-Rodino Antitrust Improvements Act of
1976.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the federal securities laws. The “forward-looking
statements” include our current expectations, assumptions,
estimates and projections about the Special Dividend and the
payment thereof. They include statements which the Company believes
to be reasonable at this time. You can identify forward-looking
statements by the use of words such as “outlook,” “may,” “should,”
“could,” “estimates,” “predicts,” “potential,” “continue,”
“anticipates,” “believes,” “plans,” “expects,” “future” and
“intends” and similar expressions which are intended to identify
forward-looking statements.
These statements are not guarantees of future performance and
are subject to numerous risks and uncertainties which are beyond
our control and difficult to predict and could cause actual results
to differ materially from the results expressed or implied by the
statements.
All forward-looking statements attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
these cautionary statements and risk factors. Forward-looking
statements contained in this press release reflect our view only as
of the date of this press release. We undertake no obligation,
other than as required by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
In evaluating our forward-looking statements, you should
carefully consider the risks and uncertainties more fully described
in the “Risk Factors” section or other sections in our reports
filed with the SEC.
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