The landmark €85m insider dealing civil case, being taken by Fyffes against DCC and its chief executive Jim Flavin, will continue in Ireland’s High Court today.
David McCann, Fyffes chief executive, has already spent five days in the witness box prior to Christmas, and is expected to spend a further three being cross-examined by the defence.
In the case, which is expected to go on beyond Easter, Fyffes claims DCC and Mr Flavin organised three share sales on February 3, 8 and 14 in 2000 for €106 million, yielding a profit of €85m.
Fyffes alleges the defendants were in possession of price-sensitive information at the time of the shares sales and breached insider dealing provisions of the Irish Companies Acts.
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