A US professor and insider-dealing expert has told the Irish High Court that information in the possession of DCC chief executive Jim Flavin at the time of a controversial €106 million sale of his companies stake in Fyffes was “highly negative” about the fruit giant’s trading performance and “definitely” price-sensitive, the Irish Independent reported.
Speaking at the landmark case this week, Prof Daniel R Fischel said it was his view the information held by Flavin would have materially affected the price of Fyffes’ shares. There was no question the information was "highly negative", and that negativity was illustrated by the fact that Fyffes’s share price fell by 14.9 per cent on March 20, 2000. The case continues.
