17 April 2023
Primo Water Corporation (NYSE: PRMW), a leading provider of sustainable drinking water solutions in North America and Europe, today announced that it has agreed to a proposal of settlement offered by Legion Partners Holdings, LLC (together with its affiliates, “Legion”) dismissing Legion’s Application in the Ontario Superior Court of Justice. Both parties have agreed to bear their own litigation expenses.
All Four of Legion’s Candidates Will Be Permitted to Stand for Election at the Company’s Upcoming Annual and Special Meeting.
Annual and Special Meeting of Shareowners Postponed to May 31, 2023.
The Board took this compromise action to avoid the ongoing and significant expense and distraction associated with litigation and determined that resolving the outstanding litigation was in the best interests of the Company and its shareowners.
Source: Company’s Press Release