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Source: http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=ENR&script=410&layout=-6&item_id=376230 NEWS RELEASE Energizer, Inc. (ticker: ENR, exchange: New York Stock Exchange) News Release - 1/29/03 Energizer Holdings, Inc. Agrees to Consent Order with Monster Cable Products, Inc ST. LOUIS, Jan. 29 /PRNewswire-FirstCall/ -- Energizer Holdings, Inc. (NYSE: ENR), filed a complaint on January 3, 2003, against Monster Cable Products, Inc. for false advertising claims regarding its product, Monster PowerCells alkaline batteries. The suit was filed in the United States District Court for the Northern District of Illinois, Eastern Division, Chicago, Illinois. In addition to damages, the suit also sought an order that Monster Cable cease using the false advertising claims. The complaint relates to Monster Cable's new packaging and web site for its Monster PowerCells alkaline batteries. Energizer's complaint alleges that the battery-performance claims contained on the packaging and web site, including claims of "Maximum Power," "Last Longer than standard alkalines" and "25% More Power Than Standard Alkalines," are false based on independent testing results. The independent testing showed that Monster PowerCells are not superior to standard alkaline batteries on the market, including Energizer's alkaline batteries. Energizer filed a Motion For Preliminary Injunction on January 10, 2003 and the parties entered into a Consent Order in lieu of going to trial on the issues raised in the motion. The Consent Order provides that, as to its current construction of its Monster PowerCells alkaline batteries, Monster Cable will remove all claims of superior performance from its packaging and any web site it controls by February 1, 2003. The Consent Order also provides that Monster Cable shall use its best efforts to remove on or before January 31, 2003 all point of purchase materials containing any reference to such claims of superior performance. Energizer's Chief Executive Officer, Pat Mulcahy, stated, "We are justifiably proud of the quality of our batteries and we won't permit competitors to get away with superiority claims that are patently misleading." Energizer, one of the world's largest manufacturers of dry cell batteries and flashlights, is headquartered in St. Louis, Missouri. SOURCE Energizer Holdings, Inc. -0- 01/29/2003 /CONTACT: Jacqueline E. Burwitz, Vice President, Investor Relations of Energizer Holdings, Inc., +1-314-985-2169/ Copyright 2001 Eveready Battery Company, Inc. |
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