JEFFERSON, La. and NEW YORK, June 15, 2010 (GLOBE NEWSWIRE) -- Stewart Enterprises, Inc. (Nasdaq:STEI), Funeral Consumers Alliance, Inc. (FCA), and their respective counsel today jointly announced that Stewart and FCA have entered into a confidential Settlement Agreement ending a lawsuit filed by FCA and several individuals in 2005. The settlement provides for dismissal with prejudice of all claims filed by the plaintiffs without any finding or admission of liability or wrongdoing by any party.
Matthew L. Cantor and Gordon Schnell of Constantine Cannon LLP, lead counsel for plaintiffs, said, "Plaintiffs brought this lawsuit to ensure, among other things, that funeral homes are honoring consumer rights with respect to casket purchases. We believe that Stewart has clearly demonstrated a commitment to apply the same standards to caskets purchased from other sellers as it does to its own merchandise."
Thomas J. Crawford, President and Chief Executive Officer of Stewart, said, "I am pleased to bring this litigation to a conclusion and to reaffirm Stewart's long-standing policy and practice of honoring the wishes of our customers who purchase caskets from other sources." Counsel for Stewart is Jones, Walker, Waechter, Poitevent, Carrier & Denegre, LLP.
About Stewart
Founded in 1910, Stewart Enterprises, Inc. is the second largest provider of products and services in the death care industry in the United States, currently owning and operating 218 funeral homes and 140 cemeteries. Through its subsidiaries, the Company provides a complete range of funeral merchandise and services, along with cemetery property, merchandise and services, both at the time of need and on a preneed basis.
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