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June 8, 2001
By: TOM BRANNA
Editor
Procter & Gamble Co. said on Friday said it agreed to settle a class action suit related to its March 2000 earnings announcement for $49 million in cash. The Cincinnati-based company also said it was comfortable with analysts’ estimates for the fourth quarter, including any impact from the settlement.P&G is expected to earn 58 to 60 cents a share in the period, with a mean of 59 cents, according to a recent poll of analysts by Thomson Financial/First Call.“In the end, this was a business decision,” said P&G chief executive A. G. Lafley, in a statement. “The settlement in no way changes our belief that we have always complied fully with our obligations under the securities laws.”
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