Class action alleged chain inflated success of pizza line to investors
Panera Bread Co. settled for $5.75 million a class-action lawsuit brought by shareholders who alleged the company misled investors about the success of its now-discontinued pizza line. District Judge E. Richard Webber gave preliminary approval to the mediated settlement Tuesday, according to court documents. The company told a newspaper in St. Louis that it admitted no wrongdoing as part of the settlement. The suit, filed initially in January 2008 by Western Washington Laborers-Employers ...
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Contact: Desiree Torres Desiree.Torres@penton.com