Price curving upwards?

James Flavin has got away with it!



Fyffes director cleared of insider dealing

A company director was today cleared of insider dealing as part of a share trade which earned profits of €85m.

Miss Justice Mary Laffoy told the High Court in Dublin that James Flavin did not act illegally in February 2000 when the multi-million euro deal went through.

Mr Flavin was a non-executive director of Fyffes when the company he founded DCC sold shares in Fyffes worth €106m.

One month later Fyffes issued a profit warning and the share price plummeted 25%.

Miss Justice Laffoy, in a 350-page judgement, said: “Mr Flavin was not in possession of price sensitive information, therefore the dealing was not unlawful.”