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Trex Company Responds to Filing of Class Action Lawsuit
WINCHESTER, Va.--(BUSINESS WIRE)--
In response to the claims of the case, which focus on product surface
flaking,
According to Kaplan,
Kaplan further commented, "We believe we have fully met our obligations to our customers and that these claims are completely without merit. These class action firms make their livings initiating speculative lawsuits merely as a way of leveraging settlements that result in large attorneys' fees awards. We believe we have been wrongfully targeted in this case and, without exception, we stand firmly behind our warranty.
"We trust the court will recognize this case for what it is - an unconscionable and irresponsible abuse of the legal system," added Kaplan. "We stand proudly behind our award-winning decking, railing, fencing and trim products and we look forward to having this unnecessary distraction removed so that we can continue to focus on delivering the highest quality products to our valued customers."
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About
The statements in this press release regarding the Company's expected
sales performance and operating results, its projections of net sales,
net income, earnings per share and costs, its anticipated financial
condition and its business strategy constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
statements are subject to risks and uncertainties that could cause the
Company's actual operating results to differ materially. Such risks and
uncertainties include the extent of market acceptance of the Company's
products; the sensitivity of the Company's business to general economic
conditions; the Company's ability to obtain raw materials at acceptable
prices; the Company's ability to maintain product quality and product
performance at an acceptable cost; the level of expenses associated with
product replacement and consumer relations expenses related to product
quality; and the highly competitive markets in which the Company
operates. The Company's report on Form 10-K filed with the
CONTACT: Media:L.C. Williams & Associates
Heather Hahn orAllison Kurtz , 800-837-7123 or 312-565-3900 hhahn@lcwa.com or akurtz@lcwa.com or Investors:Lippert/Heilshorn & Associates Harriet Fried , 212-838-3777 hfried@lhai.com Source:Trex Company