/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
TORONTO, April 17 /CNW/ - Keystone North America Inc. (TSX:KNA, KNA.UN)
("Keystone") announced today that a Cook County, Illinois jury reached a
verdict on April 16 in litigation instituted by a former employee against one
of its subsidiaries. Damages in the amount of US$3,177,500 were awarded to the
Keystone is considering its options, including potential for appeal and
post-trial motions, and is reviewing its insurance coverages. As previously
disclosed in Keystone's Annual Information Form and Consolidated Financial
Statements for the year ended December 31, 2008, Keystone had not recorded a
liability, as of December 31, 2008, related to this litigation.
About Keystone North America Inc.
Keystone, through its subsidiaries, is a leading funeral service provider
in North America, operating 200 funeral homes and 15 cemeteries across the
United States and the province of Ontario, making it, in management's
estimate, the fifth largest funeral home operator in North America.
Note on Forward-Looking Statements
This press release contains "forward-looking statements" regarding the
impact of the litigation involving a former employee on Keystone, such as the
decision to appeal or the availability of insurance. Forward-looking
statements are only predictions and are not guarantees of outcomes. Wherever
possible, words such as "believes" and similar expressions have been used to
identify these forward-looking statements.
Such forward-looking statements are subject to a number of risks and
uncertainties, including, in particular, the inherent uncertainty regarding
the outcome of any litigation or appeal, and the risks and uncertainties and
potential outcomes that are described in the risk factors titled "We may be
subject to unfavourable results in pending and future claims and litigation"
and the other risks described in the "Risk Factors" section of Keystone's
Annual Information Form for the year ended December 31, 2008, which may be
obtained at www.sedar.com. These factors should be considered carefully, and
readers should not place undue reliance on Keystone's forward-looking
statements. Keystone has no intention and undertakes no obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
For further information:
For further information: please contact Steve Tidwell, Chief Executive
Officer, (813) 225-4653 or firstname.lastname@example.org; Stephen Shaffer,
Executive Vice President and Chief Financial Officer, (813) 225-4654 or
email@example.com; or visit our investor website at