Less than 12 pages of financial data central to insider dealing case

AT the heart of the insider dealing action taken by Fyffes against DCC lies less than a dozen pages of financial information.

Less than 12 pages of financial data central to insider dealing case

Contained on those pages are figures about Fyffes trading performance in late 1999 and early 2000, which the fruit importer says was so confidential that, were it released to the market, its share price would fall substantially.

It is this information, the company alleges, that prompted former shareholder DCC and its chief executive Jim Flavin (then a director of Fyffes) to sell the 10% stake that DCC held in the company, in breach of the insider dealing provisions of the 1990 Companies Act.

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