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MarketScreener Homepage  >  Equities  >  Nyse  >  Whirlpool    WHR

WHIRLPOOL

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Whirlpool : Legal Action Stops Distribution of Deceptive and Illegal Imported Water Filters

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08/28/2020 | 02:34pm EDT

Whirlpool Corporation and Busers Imports LLC have resolved litigation relating to the role of Busers Imports as a warehouse and logistics provider for an overseas company that manufactured and sold deceptively advertised and patent-infringing refrigerator water filters.

'Our brands convey our promise to consumers to provide high quality products,' said Doug Searles, General Manager of the Consumer Products Group at Whirlpool Corporation. 'We are committed to ensuring consumers can trust that water filters bearing our name will provide the contaminant removal and quality that they expect for their families.'

We are committed to ensuring consumers can trust that water filters bearing our name will provide the contaminant removal and quality that they expect for their families.'

Busers Imports ceased providing services to this overseas company shortly after the lawsuit was filed. As part of the settlement agreement, Busers Imports has agreed to pay Whirlpool an undisclosed monetary amount while acknowledging the validity and enforceability of Whirlpool's patents. In addition, Busers Imports has committed to instituting new business practices to ensure that manufacturers of intellectual property-infringing water filters cannot use its services.

'We greatly respect the intellectual property rights of others and feel this settlement is proof of that,' said Barry Buser of Busers Imports.

'We invest heavily in ensuring that consumers have a fair online shopping experience where they can confidently purchase Whirlpool products.' Searles said. 'We appreciate Busers Imports' commitment to taking these actions to protect consumers from the deceptive tactics of certain water filter manufacturers.'

Disclaimer

Whirlpool Corporation published this content on 28 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2020 17:34:05 UTC


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Financials (USD)
Sales 2020 19 186 M - -
Net income 2020 910 M - -
Net Debt 2020 2 888 M - -
P/E ratio 2020 12,7x
Yield 2020 2,64%
Capitalization 11 569 M 11 569 M -
EV / Sales 2020 0,75x
EV / Sales 2021 0,70x
Nbr of Employees 77 000
Free-Float 55,3%
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Mean consensus HOLD
Number of Analysts 12
Average target price 198,67 $
Last Close Price 184,96 $
Spread / Highest target 29,8%
Spread / Average Target 7,41%
Spread / Lowest Target -25,9%
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Marc Robert Bitzer Chairman, President & Chief Executive Officer
James W. Peters Chief Financial Officer & Executive Vice President
Christian John Wade Gianni Senior Vice President-Product Development
Gary T. DiCamillo Independent Director
Michael D. White Independent Director
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