According to the amended complaint, Nestle Waters sells 1 billion gallons of Poland Spring a year in the US, and "not one drop" of its water "emanates from a water source that qualifies as a genuine legal 'natural spring.'"
Maggi was banned by Food Safety and Standards Authority of India in June 2015 for five months for allegedly containing lead beyond permissible limits, forcing Nestle India to withdraw the product from the market.
Nestle, which will take on about 500 Starbucks employees as part of the deal, says its ongoing share buyback program would remain unchanged. The agreement will strengthen Nestle's position in the United States, where it is only the No. 5 player with less than 5 percent of the market.
Alarmed by a steep drop in the country's production, Nestle, which buys 10 per cent of the world's coffee and has the leading packaged coffee business, is working with farmers to guarantee its supplies.
Investors were looking for Nestle's new chief executive Mark Schneider to demonstrate that it has a strong strategy to improve performance following four years of missing sales targets as the food sector's growth cools