Evidence has been uncovered which it is alleged could damage Fyffes insider trading case against DCC and its chief executive Jim Flavin.
A letter from former Fyffes chairman, Neil McCann, to a shareholder in 2000 in which he played down the significance of the company poor trading performance in the first few months of its 2000 fiscal year.
However, the defence claimed the letter contradicts evidence given by Carl and David McCann in Dublin’s High Court.
They had said they were deeply concerned about the difficult trading patterns which left the company €7.3 million behind its budget in the first quarter of 2000.
The letter could also undermine evidence given by Professor Daniel Fischel, an American expert on insider trading, who testified for Fyffes last week.
In light of the new information, lawyers for DCC are now considering making an application to re-call Carl and David McCann and Fischel for further cross-examination.
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