Two Owners of Louisiana Bottler Sue Coca-Cola
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NEW ORLEANS — Two owners of Louisiana Coca-Cola Bottling Co. Ltd. are suing Coca-Cola Co. in federal court, claiming the Atlanta-based soft drink maker failed to live up to an agreement to buy the Louisiana bottler.
Richard W. Freeman Jr., president of the bottler, and his brother, Louis M. Freeman, chairman of the board, filed the suit claiming that Coca-Cola was wrong when it refused to go ahead with the $148 million purchase of their company.
Coca-Cola would not comment directly on the suit. But a spokesman said one reason the company decided not to proceed with the sale was an earlier suit against the Freemans filed by minority stockholders in the Louisiana company.
The minority stockholders charged the Freemans with Making misleading statements to them and coercing them into selling their stock in the bottling company for $950 a share.
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