Universal Damages Award Reduced

Source from:  tobaccoreporter.com US, Thursday, January 4, 2007 01/05/2007

Universal Corp announced yesterday that a California court had substantially reduced punitive damages previously awarded to plaintiffs in a case that arose from an employment matter involving the company's Madera Quality Nut subsidiary. Punitive damages awarded in the Rosemary Valladares et al v. Madera Quality Nut Inc et al had been reduced by the trial court to about $1.25 million from the original jury award of $25 million. Compensatory damages were about $200,000. 'Under this court order, the total cost to the company and its subsidiaries would be about $1.45 million plus a portion of the plaintiffs' legal costs, in addition to its own legal costs,' Universal said in a release issued on its website. 'The Company is reviewing the final order from the court and considering its options, which could include appeal.' Enditem