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BRIEF-Sigma Pharmaceuticals updates on class action settlement

Published 13/05/2016, 02:20 pm
© Reuters.  BRIEF-Sigma Pharmaceuticals updates on class action settlement
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May 13 (Reuters) - Sigma Pharmaceuticals Ltd SIP.AX :

* A proportion of class action settlement reached in 2012 was funded by insurers and subject to right to "claw- back" in certain circumstances

* Sigma and AIG have subsequently agreed to settle AIG's claim for reimbursement for $12.5 million

* This has continued to be recognised as a contingent liability in Sigma's accounts

* AIG has notified Sigma of its intention to exercise this right

* Says this settlement has no ongoing implications for Sigma's business

* Due to settlement, there will be a one-off $8.8 million impact on Sigma's reported net profit after tax

* Source text for Eikon ID:nASX32PhDN

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