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Canadian Feed Co. to Pay $6 million in B.S.E. Class Action

07 February 2008

CANADA - Animal feed company Ridley Inc. has agreed to pay $6 million in a settlement agreement with the plaintiffs in several mad cow class action lawsuits filed against the company and the Canadian government.
Under the deal, Ridley made no admission of liability or wrongdoing, but agreed to into a plaintiffs' settlement trust fund.

"'Resolving these lawsuits now minimizes the costs associated with defending an already lengthy litigation, eliminates the uncertainty, and allows us to move our business forward,'' Ridely CEO Steve VanRoekel said in a statement.

Ridley will remain a participant in the ongoing litigation as plaintiffs continue their claim against the Canadian government.


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