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WILMINGTON, Del. (AP) - A federal court in Delaware Tuesday exonerated Campbell Soup Co. of charges of fraud in connection with its spin-off of Vlasic Foods International.
Creditors had accused the Camden, N.J., food company of packaging its money-losing lines of business into the new public company and sending it into the market with little chance of survival.
U.S. District Judge Kent Jordan ruled against them, finding that the Vlasic business was solvent at the time it hit the public market, so Campbell Soup isn't liable for the company's later collapse into bankruptcy.
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