Ascot appeals permanent injunction and monetary judgments against ADF Foods’ US subsidiary
ADF Foods Limited has provided an update regarding ongoing litigation involving its US subsidiary, confirming that while opposing party Ascot Valley Foods Ltd. has filed an appeal, the original injunctions and judgments remain effective.The dispute centers on legal proceedings originating in the United States District Court, Southern District of New York, where ADF Foods’ US subsidiary secured a permanent injunction and monetary awards against Ascot Valley Foods Ltd. (Ascot).
As per details concerning the litigation, the following aspects have been noted:
| Particulars | Details |
|---|---|
| Opposing Party | Ascot Valley Foods Ltd. ('Ascot') |
| Court/Tribunal | United States District Court, Southern District of New York |
| Litigation Status Update | Ascot filed a Notice of Appeal to the United States Court of Appeals for the Second Circuit against the permanent injunction and monetary judgments previously passed by the US District Court, Southern District of New York. |
Regarding the current legal status, the filing of the appeal by Ascot does not reverse, vacate, or modify the Permanent Injunction or the corresponding judgments. As of the latest report, no stay has been granted for the Permanent Injunction, the Final Judgment, or the Supplemental Judgment. Consequently, the permanent injunction and monetary judgements passed in favour of ADF Foods' US subsidiary remain in effect.
The company stated that its US subsidiary will contest the appeal and take all necessary steps required to protect and enforce its rights.
ADFFOODS Stock Price Movement
Today, ADF Foods Limited shares edged higher to close at ₹262.45, gaining 1.22%. The stock saw total traded volume reach 127,124 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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