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SECURITIES AND EXCHANGE COMMMISSION & ORS

(2013) JELR 35975 (CA)

Court of Appeal 29 Jan 2013 Nigeria
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- This is an appeal against a judgment of the Federal High Court of Lagos State, which concluded that the appellant's right to fair hearing had not been breached. - The case involves allegations of misstatements in the accounts of Cadbury N

Case Details

Suit Number:CA/L/13/2009
Judges:AMINA ADAMU AUGIE Justice of The Court of Appeal of Nigeria IBRAHIM MOHAMMED MUSA SAULAWA Justice of The Court of Appeal of Nigeria SIDI DAUDA BAGE Justice of The Court of Appeal of Nigeria
Counsel:O. SOWEMIMO, (SAN) WITH HIM EZETAH & O. ADIGUN For Appellant RESPONDENT ABSENT - But served with the Hearing Notice For Respondent
Other Citations:(2013) JELR 51019 (CA)

IBRAHIM MOHAMMED MUSA SAULAWA, J.C.A. (Delivering the Leading Judgment): This is an appeal against the Judgment of the Federal High Court of Lagos State, Judicial Division, which was delivered on September 26, 2008 in Suit No. FHC/L/CS/483/2008 by Abdullahi Mustapha, CJ. By the judgment in-question, the lower court came to the conclusion that the Appellant's right to fair hearing had not been breached. Consequent whereupon, the lower court dismissed the said suit.

BACKGROUND FACTS:

The facts and circumstances surrounding the appeal are gleanable from the records of appeal. In June, 2003, the Appellant was appointed a non-executive director of CADBURY NIGERIA PLC. In June 2006, the Annual Report Accounts of Cadbury Nig. Plc. was sent to the 1st Respondent. Upon reviewing the said report, the 1st Respondent expressed some concerns regarding declining profitability, worsening leverage ratio mis-statements in the company's accounts, et al.

Consequent thereupon, the chairman of Cadbury N…

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