Nufarm settles financial reporting claims
Nufarm has agreed to pay Aus$43.5 million (US$45.6 million) to settle class action claims over its financial reporting for fiscal 2010. The settlement was made under a court-ordered mediation process 14 months before the scheduled trial date. Two class action lawsuits were filed against the company in early 2011 following the halving of its underlying net profit guidance in July 2010 ( Agrow No 608, p 4). Subject to court approval, the class action will be dismissed without admission of liability by Nufarm, the company points out.