Class Action Lawsuit Filed Against Fruit of the Loom, Inc.

A class action lawsuit was filed by the law firm of Strauss & Troy on March 29, 2000, in the US District Court for the Western District of Kentucky, on behalf of all persons who purchased Class A common stock of Fruit of the Loom, Inc. between September 28, 1998 and November 4, 1999.

The complaint alleges William Farley and G. William Newton, two top executives of Fruit, with violations of Section 10(b) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements and participating in a scheme to deceive purchasers of Fruits' Class A common stock.