Albertsons Companies Provides Updates on Legal Proceedings Surrounding Special Dividend
21 Dezember 2022 - 8:42PM
Business Wire
Washington State Supreme Court Set to Hear
Appeal on February 9, 2023
U.S. Circuit Court for the District of Columbia
Denies Motion by Attorneys General for an Injunction Pending
Appeal
Albertsons Companies, Inc. (NYSE: ACI) (“Albertsons Cos.” or
“the Company”) announced that on December 19, 2022, the State of
Washington Supreme Court set a date for the review of the temporary
restraining order (“TRO”) against the Company’s previously
announced $6.85 per common share Special Dividend (the “Special
Dividend”). The Washington Supreme Court, sitting en banc, will
review the appeal of the Attorney General of the State of
Washington on February 9, 2023. The TRO will remain in effect until
there is a further order issued by the Washington Supreme Court.
Albertsons Cos. has filed a motion to further expedite the
Washington Supreme Court’s en banc review.
The Company further announced that on December 20, 2022, the
U.S. Circuit Court for the District of Columbia denied the motion
filed by the California, Illinois and District of Columbia
Attorneys General for an injunction pending appeal and an
administrative stay of the payment of the Special Dividend. On
November 8, 2022, the U.S. District Court for the District of
Columbia denied the request by the California, Illinois and
District of Columbia Attorneys General for a temporary restraining
order against the payment of the Special Dividend.
Albertsons Cos. continues to maintain 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, are meritless and provide no legal
basis for preventing the payment of the Special Dividend.
Albertsons’ position has been supported by favorable rulings in
both Circuit and District courts in the District of Columbia and a
Washington State court.
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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For Investor Relations, contact
investor-relations@albertsons.com For Media Relations,
contact media@albertsons.com
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