DCC sees 50 mln eur costs from Supreme Court judgement in Fyffes case UPDATE |
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Fri, 27 Jul 2007 13:49
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(Updates to add detail on DCC statement)LONDON (Thomson Financial) - DCC PLC said it expects an aggregate liability, including legal costs, of not more than 50 mln eur, after the Irish Supreme Court upheld an appeal by Fyffes PLC over alleged unlawful share dealing.Earlier, the Irish High Court had found in favour of DCC, two of its subsidiaries -- S&L Investments Ltd and Lotus Green Ltd -- and its chief executive, Jim Flavin, in the case taken by Fyffes seeking an account of profits on the sale of about 31.2 mln shares in Fyffes in 2000 by Lotus Green.DCC said it believes its liability to Fyffes resulting from this judgment will not exceed the difference between the price at which the relevant shares were sold and the price those shares would have realised had the relevant information been generally known.TFN.newsdesk@thomson.comkkb/amCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Fyffes wins Supreme Court appeal against DCC over unlawful share dealing 