Web Summit shareholders settle bitter High Court dispute

Speaking afterwards Paddy Cosgrave said it was a 'great day for Web Summit' and that the company was 'delighted to remove these two individuals [Mr Hickey and Mr Kelly] as minority shareholders'

Web Summit majority shareholder Paddy Cosgrave (pictured) was suing Mr Kelly, who owns 12% of the shares in Web Summit, for alleged breaches of his fiduciary duties as a director of the company. File photo: Leon Farell / © RollingNews.ie

The bitter High Court civil trial involving three shareholders of tech conference giant Web Summit has finally been settled after talks between the parties came to a resolution.

At 11am on Thursday morning Joe Jeffers SC, for minority shareholder in Web Summit David Kelly, told the court that all matters had been resolved to a satisfactory conclusion between majority shareholder Paddy Cosgrave, Mr Kelly and former director Daire Hickey and that matters were to be listed for mention before the court on April 29.