This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

CCA Industries, Inc. Announces Twenty-Fifth Consecutive Dividend And Preliminary Settlement Of A Class Action Lawsuit

EAST RUTHERFORD, N.J., May 28 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (NYSE Amex: CAW), announced today that its Board of Directors has approved a dividend of $0.07 per share to all shareholders of record as of August 2, 2010 and payable on September 2, 2010.  This will be the Company's twenty-fifth consecutive dividend.

The Company also entered into a preliminary settlement of the class action lawsuit, Denise Wally vs. CCA Industries, Inc., in the Superior Court of Los Angeles, California, regarding the advertising and packaging of the Company's dietary supplement product.  The settlement is subject to a Final Order of Settlement approved by the Court.  The settlement provides for a one-time payment of $2.5 million into a common fund to be disbursed as provided for in the Final Order of Settlement.

"The Company denies all of the allegations of any wrongdoing and liability in regard to its advertising, however the Board of Directors believed that in the light of the costs, risks and the substantial disruption of its business by the litigation, that it was in the best interests of the Company to settle the case.  The settlement will have no effect on the operations of the Company," stated Dunnan Edell, President.  The $2.5 million payment will be taken as a charge against the second quarter 2010 earnings.  "This would be a one-time expense, and fortunately, due to the Company's strong financial position, the settlement should have no substantial effect on the Company's business going forward."

The Company also settled a dispute with its insurance carrier regarding its advertising insurance.  The settlement calls for the insurance carrier to pay 50% of all legal fees and related costs associated with the Wally litigation, up to a maximum of $475,000.

CCA Industries, Inc. manufactures and markets health and beauty aids, each under its individual brand name.  The products include, principally, "Plus+White" toothpastes and teeth whiteners, "Mega-T " Green Tea diet supplements, "Mega-T" Green Tea gum and mint products, "Bikini Zone", medicated topical and shave gels, " Nutra Nail" nail care treatments, "Scar Zone" scar treatment products, "Sudden Change" anti-aging skin care products, "Parfume de Vanille" fragrances, "Solar Sense" sun protection  products, "Hair Off" hair removal and depilatory products, "Wash 'N Curl" shampoos and conditioners and Pain Bust RII, an analgesic product.

Statements contained in the news release that are not historical facts are forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.

SOURCE CCA Industries, Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,719.00 +33.27 0.19%
S&P 500 2,052.70 +3.98 0.19%
NASDAQ 4,701.8670 +26.1550 0.56%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs