ConAgra Foods faces possible class-action suit (manipulated facts=lying)

[UpInArms]

http://www.marketwatch.com/news/story.asp?guid=%7B60F81B6C%2D669B%2D4FE0%2DB9F9%2D6F7FD48639B8%7D

SAN DIEGO (MarketWatch) -- ConAgra Foods Inc. (CAG) faces a purported class-action suit, alleging the packaged food maker had overstated its financial projections for fiscal year 2005 based on manipulated facts.

The complaint also contends that ConAgra made misleading statements regarding the company's business, according to a press release Tuesday, resulting in financial restatements that dated back to fiscal 2002.

In addition, ConAgra is accused of not carrying out the necessary internal controls to reach its financial projections, prompting the company to slash its 2005 profit forecast on June 7. The stock closed 5.4% lower on that day.

The case was filed by law firm Lerach Coughlin Stoia Geller Rudman & Robbins LLP in the U.S. District Court for the District of Nebraska on behalf of investors from Sept. 18, 2003 to June 7.

...more...

[thinkingwoman]

1. hey, can citizens file

a class action suit against the "prez" for "manipulating facts"?

Could we just bypass Congress all together, or, better yet, sue them to for failure to perform their duties (check and balance the executive branch)?

I'd donate for legal fees for both of those.

[meganmonkey]

2. Well, of all things I would like to see this company sued for

this wouldn't be my first choice, but it'll do!