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April 2, 2012 /PRNewswire/ -- Anixter International Inc. (NYSE: AXE), a leading global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts, today announced that on
March 29, 2012, the United States District Court for the Northern District of
Illinois, Eastern Division, granted the Company's motion to dismiss the purported securities class action suit brought against the Company by Plaintiffs Garden City Employees' Retirement System et al. The case was dismissed in its entirety with prejudice, resulting in a termination of all claims.
"We are pleased with the Court's ruling to dismiss the shareholder lawsuit as it was our belief from the beginning that this case had no foundation," said
Robert Eck, President and CEO of Anixter. "We have always been proud of our strong, disciplined external reporting and disclosure processes, so it is rewarding to see that the Court has rejected the plaintiffs' unfounded claims."
Anixter International is a leading global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts. The company adds value to the distribution process by providing its customers access to 1) innovative inventory management programs; 2) more than 450,000 products and over
$1.0 billion in inventory; 3) 225 warehouses with approximately 7 million square feet of space; and 4) locations in over 260 cities in more than 50 countries. Founded in 1957 and headquartered near
Chicago, Anixter trades on The New York Stock Exchange under the symbol AXE.
Additional information about Anixter is available on the Internet at www.anixter.com
SOURCE Anixter International Inc.