LONDON (ShareCast) - Dewhurst said on Monday that a settlement has been reached between its Hungarian subsidiary and AIG Specialty Insurance.
In January last year, the said Dewhurst subsidiary received a complaint from IAG claiming $7m after the purported product failure of a component it supplied to a third party.
Dewhurst that said that the lawsuit has been dismissed and Dewhurst (Hungary) Kft and AIG have agreed a confidential full and final settlement of all claims arising from the dispute.
Dewhurst said there will be no material impact on current market expectations for its results or future financial years.
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