Stock Market News
Safestyle files legal claim against competitor Safeglaze
AIM-listed double glazing group Safestyle said on Monday that it is seeking damages and injunctive relief against competitor Safeglaze UK - whose most recent TV ad was fronted by Eastenders legend Pam St Clement - and a number of named individuals.
"The claim asks the Court to determine whether Safestyle is entitled to injunctive relief and damages from what the group considers to be passing off, the misuse of confidential information, unlawful means conspiracy and malicious falsehood," it said. Safestyle is also applying for urgent interim relief, pending the trial of this matter.
The Bradford-based company, which scrapped its dividend and issued another profit warning in April, said it had "invested heavily in building its leading market position over many years".
"The group welcomes healthy competition in the market, but is committed to protecting its brand, its reputation, and its staff."
Safestyle also issued profit warnings in December and February, and was slapped with an £850,000 fine from the Health & Safety Executive in April.
It said back in February that it had been hit by the activities of an "aggressive new market entrant", which had exacerbated an already difficult market. It did not give a name for the new entrant, but said in April that since then, the activities of the competitor had intensified and that it had taken longer to rebuild the order intake to the rate previously expected.
At 1550 BST, the shares were up 0.4% to 61.50p.
"The claim asks the Court to determine whether Safestyle is entitled to injunctive relief and damages from what the group considers to be passing off, the misuse of confidential information, unlawful means conspiracy and malicious falsehood," it said. Safestyle is also applying for urgent interim relief, pending the trial of this matter.
The Bradford-based company, which scrapped its dividend and issued another profit warning in April, said it had "invested heavily in building its leading market position over many years".
"The group welcomes healthy competition in the market, but is committed to protecting its brand, its reputation, and its staff."
Safestyle also issued profit warnings in December and February, and was slapped with an £850,000 fine from the Health & Safety Executive in April.
It said back in February that it had been hit by the activities of an "aggressive new market entrant", which had exacerbated an already difficult market. It did not give a name for the new entrant, but said in April that since then, the activities of the competitor had intensified and that it had taken longer to rebuild the order intake to the rate previously expected.
At 1550 BST, the shares were up 0.4% to 61.50p.
Related share prices |
---|
Safestyle UK (SFE) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price