ADF Foods Subsidiary Wins US Litigation, Awarded $2.3M

Adf Foods Ltd announced a significant positive outcome in litigation involving its step-down subsidiary, ADF Foods (USA) Ltd. The United States District Court, Southern District of New York, issued findings substantially favorable to ADF Foods (USA) Ltd. The court awarded ADF Foods (USA) Ltd. US$ 2,298,114 for disgorgement of Ascot Valley Foods, Ltd.'s profits due to misappropriation of ADF's proprietary information. ADF's own liability is capped at US$ 100,706.96 plus interest. The matter is subject to final judgment and further proceedings, with no immediate financial statement impact expected. ADF has been directed to propose a final judgment and injunction.