MINNEAPOLIS, Nov. 30, 2015 /PRNewswire/ -- Appliance Recycling
Centers of America, Inc. (Nasdaq: ARCI), a leading provider of
appliance retailing and recycling services, today announced the
United States District Court for the Central District of
California entered an order on
November 24, 2015, granting the
motion of Appliance Recycling Centers of America, Inc. (the
"Company") to dismiss the lawsuit commenced against the Company and
certain current and former officers of the Company on March 6, 2015, by Jason
Feola, individually and as a putative representative of a
class consisting of purchasers of the Company's common stock
between March 15, 2012 and
February 11, 2015.
The Court's order provides that the dismissal is without
prejudice and that the plaintiffs may file an amended complaint
within 21 days of the issuance of the order.
About ARCA
ARCA's three business components are uniquely positioned in
the industry to work together to provide a full array of
appliance-related services. ARCA Advanced Processing, LLC employs
advanced technology to refine traditional appliance recycling
techniques to achieve optimal revenue-generating and environmental
benefits. ARCA (www.ARCAInc.com) is also the
exclusive North American distributor for UNTHA Recycling Technology
(URT), one of the world's leading manufacturers of technologically
advanced refrigerator recycling systems and recycling facilities
for electrical household appliances and electronic scrap.
ARCA's regional centers process appliances at end of life to
remove environmentally damaging substances and produce material
byproducts for recycling for utilities in the U.S. and Canada. Eighteen company-owned stores under
the name ApplianceSmart, Inc.®
(www.ApplianceSmart.com) sell new appliances directly
to consumers and provide affordable ENERGY STAR® options
for energy efficiency appliance replacement programs.
This press release contains statements that are
forward-looking statements as defined within the Private Securities
Litigation Reform Act of 1995, including statements regarding
ARCA's future success. These forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ materially from the statements made, including the risks
associated with general economic conditions, competition in the
retail and recycling industries and regulatory risks. Other factors
that could cause operating and financial results to differ are
described in ARCA's periodic reports filed with the Securities and
Exchange Commission. Other risks may be detailed from time to time
in reports to be filed with the SEC.
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SOURCE Appliance Recycling Centers of America, Inc.