Fyffes plc has announced that it intends to lodge an appeal to the Irish Supreme Court seeking to overturn the decision of the High Court in its failed legal action against DCC.
The High Court dismissed Fyffes' claim that DCC's chief executive Jim Flavin was in possession of price sensitive information in February 2000 as a director of Fyffes when he
sold Fyffes shares owned by DCC.
A statement from Fyffes said this afternoon that the decision to appeal follows a detailed analysis of the judgment by the directors and by the company's counsel.
DCC responded with its own statement saying it is "surprised" at Fyffes' decision to further pursue an appeal.
"The appeal will be challenged vigorously and comprehensively. DCC is confident that there are no good grounds of appeal and that the detailed and considered decision of the High Court will be upheld," DCC said.
The notice of appeal will be served shortly.