Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Court Case Update

17th Jan 2011 11:59

RNS Number : 5870Z
Avesco Group PLC
17 January 2011
 

Avesco Group plc

(the "Group")

 

Court Case Update

 

Avesco Group plc, the international provider of services to the corporate presentation, entertainment and broadcast markets, announces an update regarding the Group's economic interest in the outcome of existing litigation brought by Celador International Ltd ("Celador") against The Walt Disney Company and others ("Disney").

 

The Group announced on 22 December 2010 that the US District Court of Riverside, California had issued a ruling denying Disney's request that the jury's verdict be overturned and denying Disney's request for an order for a new trial. In addition, pre-judgement interest of up to $50m had been agreed to the benefit of Celador.

 

On Friday 14 January 2011 Disney filed a notice of appeal to the United States Ninth Circuit Court of Appeals.

 

If paid in full, the Group's interest in the total award, after costs and any tax, is approximately $60m.

 

 

For further information please contact:

 

Avesco Group plc 01293 583400

Ian Martin, Chief Executive

John Christmas, Finance Director

 

finnCap 020 7600 1658

Corporate Finance

Clive Carver/Ed Frisby

 

Corporate Broking

Brian Patient

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSFAFFWFFSEIF

Related Shares:

AVS.L
FTSE 100 Latest
Value8,585.01
Change-17.91