Nufarm settles class action suit for A$43.5 mln

Wed, 01 Aug 2012

Aug. 2 (BusinessDesk) - Agricultural chemicals company Nufarm said it has reached a A$43.5 million conditional settlement of class action proceedings brought against it in early 2011 and which alleged material non-disclosure and over-optimistic profit forecasts in 2010. Nufarm had previously denied all allegations of wrongdoing and had said it would vigorously defend the case. Chairman Donald McGauchie said today that in agreeing to settle, Nufarm's board “carefully considered risks and costs associated with a protracted litigation and deman...

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