Minneapolis-based retailer Supervalu has been accused of certain violations of the federal securities laws by a purported class action filed by a Pennsylvania law firm.

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Schiffrin & Barroway said in a press release on Friday that it filed the lawsuit in the District of Minnesota court on behalf of Supervalu common stock purchasers from 4 April 2001, through 26 June 2002.


The complaint alleges that certain Supervalu officers filed “materially false and misleading” statements regarding its finances with the Securities and Exchange Commission (SEC),


Supervalu responded saying that the lawsuit is “completely without merit” and added that it “intends to vigorously defend the action”.


“Management believes that the company has always acted with integrity and in compliance with its legal disclosure obligations,” it added.

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