Two long-running High Court cases between Specsavers and four former joint venture partners have been settled before a decision could be reached.
The settlement marks the end of a case which began in November 2013. The multiple was taken to court after it issued purchase orders for nominal share values following alleged breaches of its shareholders agreement. Specsavers denied the allegations and brought a counter claim against the former joint venture partners for alleged fraud and dishonesty. Full transcripts of the claims and counter claims were posted on the website of law firm Akin Palmer.
The case involving Dr Helle Poulsen of West Sussex and former business partner Barry Weller, who ran a Specsavers practice in Bognor Regis was the first to be heard in front of Mr Justice Hildyard. Shakila Parham and John Parham, who operated a practice in Uckfield, followed. The judge considered the verdict for over a year.
A Specsavers spokesman said: 'We are delighted to confirm that the proceedings brought by former partners in Bognor Regis and Uckfield against Specsavers have been settled on mutually satisfactory terms prior to a judgment being handed down. The terms of that settlement are strictly confidential and we will make no further comment on the matter.'
The verdict in another shareholder dispute brought against the multiple by Swarandeep Birdi of Dartford Specsavers has yet to be reached.