SHOPPERS DRUG MART CORPORATION RESPONDS TO NOTICE OF LAWSUIT
Nov 22, 2010
TORONTO, Nov. 22 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) has obtained a copy of a Notice of Action in a proposed class proceeding that has been filed in the Ontario Superior Court of Justice by two of its licensed Associate-owners, claiming various declarations and damages of $1 billion on behalf of a proposed class comprised of all of its licensed Associate-owners.
The claim alleges, among other things, that Shoppers Drug Mart and two of its affiliates breached contractual and other duties to its Associate-owners by collecting, receiving and/or retaining funds and/or benefits that are in excess of those permitted by the applicable agreements.
Shoppers Drug Mart believes that the claim is without merit and will vigorously defend the claim.
Shoppers Drug Mart prides itself on having strong relations with its Associate-owners who, since 1962, have helped build a brand that is synonymous with exceptional service, value and trust. Together, we will continue to focus our efforts on meeting the health, beauty and convenience needs of our patients and customers in the communities we serve.
About Shoppers Drug Mart Corporation
Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing. The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec). With more than 1,181 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in each province and two territories, the Company is one of the most convenient retailers in Canada. The Company also licenses or owns more than 58 medical clinic pharmacies operating under the name Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec) and eight luxury beauty destinations operating as Murale. As well, the Company also owns and operates 63 Shoppers Home Health Care stores, making it the largest Canadian retailer of home health care products and services. In addition to its retail store network, the Company owns Shoppers Drug Mart Specialty Health Network Inc., a provider of specialty drug distribution, pharmacy and comprehensive patient support services, and MediSystem Technologies Inc., a provider of pharmaceutical products and services to long-term care facilities in Ontario and Alberta.
For more information, visit www.shoppersdrugmart.ca.
For further information:
|Media Contact:||Investor Relations:|
|Lisa Gibson |
Director, Communications & Corporate Affairs
(416) 490-2892, or
(416) 493-1220, ext. 5500
|(416) 493-1220, ext. 5678|