Campbell Soup Company (NYSE:CPB) was slapped with a high-profile lawsuit from the Department of Justice. The lawsuit centered on allegations that the company's plant in Ohio is leading to pollution in Lake Erie.
Specifically, the DOJ lawsuit accuses the food giant of violating pollution restrictions along the Lake Erie tributary Maumee River by discharging for several years too many contaminants including phosphorous and bacteria. The legal action was filed on behalf of the Environmental Protection Agency under the federal Clean Water Act.
In addition to the DOJ lawsuit, non-profit organizations Environment America and Lake Erie Waterkeeper filed a lawsuit in the U.S. District Court for the Northern District of Ohio against Campbell Soup (CPB).
"Western Lake Erie is plagued annually by toxic algal blooms, and pollution flowing into the lake from the Maumee River is a primary culprit," stated Lake Erie Waterkeeper Sandy Bihn. "Campbell Soup’s persistent violations of its legally mandated limits on discharges of phosphorous and other organic pollutants are only making the problem worse," added Bihn.
In a response to the lawsuit, Campbell Soup (CPB) said it will continue to take immediate action to address the issue and has capital investments planned to resolve it permanently. "We will continue to work with regulators and other stakeholders to improve our operations and comply with all environmental regulations," read a company statement.
Shares of Campbell Soup (CPB) are down 19% over the last 52 weeks. The Seeking Alpha Quant Rating on the food stock is Hold.
Specifically, the DOJ lawsuit accuses the food giant of violating pollution restrictions along the Lake Erie tributary Maumee River by discharging for several years too many contaminants including phosphorous and bacteria. The legal action was filed on behalf of the Environmental Protection Agency under the federal Clean Water Act.
In addition to the DOJ lawsuit, non-profit organizations Environment America and Lake Erie Waterkeeper filed a lawsuit in the U.S. District Court for the Northern District of Ohio against Campbell Soup (CPB).
"Western Lake Erie is plagued annually by toxic algal blooms, and pollution flowing into the lake from the Maumee River is a primary culprit," stated Lake Erie Waterkeeper Sandy Bihn. "Campbell Soup’s persistent violations of its legally mandated limits on discharges of phosphorous and other organic pollutants are only making the problem worse," added Bihn.
In a response to the lawsuit, Campbell Soup (CPB) said it will continue to take immediate action to address the issue and has capital investments planned to resolve it permanently. "We will continue to work with regulators and other stakeholders to improve our operations and comply with all environmental regulations," read a company statement.
Shares of Campbell Soup (CPB) are down 19% over the last 52 weeks. The Seeking Alpha Quant Rating on the food stock is Hold.
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