A2 Milk settles court dispute with Lion
A2 faced a legal challenge in Australia from Lion over the science behind health-related claims about the milk.
Meanwhile, A2 had taken Lion to court over its milk brand’s use of A2 protein claims, seeking an injunction and damages. Last month, A2 said the court hearing in the Australian Federal Court had been vacated from November until the New Year.
“A settlement has been reached in respect of the legal dispute,” A2 said in a statement. “The parties have mutually agreed not to proceed with their cases against each other. The terms of the settlement are confidential.”
A2 said the parties were “very satisfied” with the outcome. A2 shares last traded at $8.08, and are the best performing stock on the benchmark S&P/NZX 50 Index this year, having gained 279 per cent.