Landec Corporation Agrees to Settle Labor Related Legal Actions and Updates Guidance
Landec Corporation (LNDC)
Last landec corporation earnings: 3/31 04:05 pm
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US:NASDAQ Investor Relations:
ir.landec.com/investor-relations
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Source: GlobeNewswire
MENLO PARK, Calif., March 28, 2017 (GLOBE NEWSWIRE) -- Landec Corporation (NASDAQ:LNDC), a leading innovator of diversified health and wellness solutions within the packaged natural food and biomaterial markets, announced today that Apio, Inc., Landec’s food subsidiary (“Apio”), has reached an agreement in principle to settle a variety of claims made against the Company and its labor contractor. Apio has been the target of a union organizing campaign which has included two unsuccessful attempts to unionize Apio’s Guadalupe, California processing plant. The campaign has involved a union and over 100 former and current employees of Pacific Harvest, Inc. and Rancho Harvest, Inc. (collectively “Pacific Harvest”), Apio’s labor contractors, bringing dozens of legal actions before various state and federal agencies, the California Superior Court, and initiating over 100 individual arbitrations against Apio and Pacific Harvest (the “Actions”). For over 15 years, Apio has retained Pacific
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