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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 19, 1998
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ODWALLA, INC.
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(Exact name of registrant as specified in charter)
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<S> <C> <C>
CALIFORNIA 0-23036 77-0096788
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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120 STONE PINE ROAD, HALF MOON BAY, CA 94019
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (650) 726-1888
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NONE
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
On May 26, 1998, the registrant announced in a press release that on May
19, 1998, it reached a settlement with five separate plaintiffs in previously
reported legal matters. A copy of the press release issued in connection with
this announcement is incorporated herein by reference and is attached hereto as
Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
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<CAPTION>
EXHIBIT NO. EXHIBIT
<S> <C>
99 Press Release dated May 26, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
ODWALLA, INC.
DATE: June 1, 1998 By: /s/ James R. Steichen
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Name: James R. Steichen
Title: Vice President - Finance, Chief
Financial Officer
2.
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EXHIBIT INDEX
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<CAPTION>
EXHIBIT NO. EXHIBIT
<S> <C>
99 Press Release dated May 26, 1998.
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3.
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EXHIBIT 99
MEDIA CONTACT: Chris Gallagher FOR IMMEDIATE RELEASE
Odwalla, Inc.
(650) 712-5512
ODWALLA AND FAMILIES REACH SETTLEMENT
-- Pending Court Approval, Company and Families Move Forward --
(Half Moon Bay, Calif., May 26, 1998) -- Odwalla, Inc. (NASDAQ: ODWA) today
announced that Odwalla and five families represented by William Marler of the
law firm Kargianis Watkins Marler and Bruce Clark of the law firm Karr Tuttle
have reached a settlement.
Odwalla, the families, and their attorneys have agreed not to disclose the
amounts of the settlements other than to say that, pending court approval, funds
will be placed in trusts to be used for the children?s future medical or
educational needs.
"Our sympathy will forever be extended to the individuals and families who were
affected by this," said Stephen Williamson, Odwalla's Chief Executive Officer.
"We are all pleased to have reached a resolution which allows both the families
and our company to move forward in a positive way," added Greg Steltenpohl,
Co-Founder and Chairman of Odwalla.
Odwalla has already voluntarily paid all related medical expenses for these and
other affected people. In addition, immediately following the recall in 1996,
Odwalla implemented a fresh juice safety and quality assurance program that
already meets and exceeds the Federal Drug Administration's recently proposed
requirements for the industry. "We're proud to be leading the industry in safety
and quality," said Williamson.
"We look forward to working closely with government agencies, consumer groups
and institutions of research to help prevent foodborne illness and share what we
have learned."
Odwalla, Inc. (NASDAQ: ODWA) is the leading supplier of nourishing beverages in
the western United States, serving thousands of accounts in California,
Washington, Colorado, Oregon, Texas, New Mexico, Nevada, Arizona, Michigan and
Illinois from its production facility in Dibuna, California. For more
information about Odwalla and its products, please visit our website,
www.odwalla.com.
4.
