Fruit importer Fyffes has today (18 June) relaunched its legal battle against a former shareholder over alleged insider trading.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Irish company has taken its case to the country’s Supreme Court following a 2005 ruling that the former shareholder, sales and marketing firm DCC, had not breached laws on insider dealing when it sold a stake in Fyffes in 2000.
Fyffes had claimed that DCC chief executive Jim Flavin, who was then a director of the company, possessed price-sensitive information when DCC sold its stake. Fyffes argued that if the information had been released, its share price would have fallen.
However, a High Court ruling in December 2005 said the confidential information was not price-sensitive and therefore the disposal of the DCC stake could not be constituted as insider dealing.
A Fyffes spokesman confirmed that the appeal was being heard today but declined to comment further on legal grounds.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
