By Joe Hoppe
DX (Group) said Wednesday that it has reached a full and final settlement with Tuffnells Parcels Express in its claim against DX, which it said has no effect on its fiscal-year expectations.
The London-listed delivery company said the confidential settlement, which carries no admission of liability, is a satisfactory conclusion for all involved. It doesn’t affect DX’s expectations for the year ending July 1, or thereafter.
On Feb. 13, DX said it had received a claim from Tuffnells relating to confidential competitor information being obtained by DX in the past.
DX had said in September last year that an internal investigation into a bribery allegation had concluded and it had taken measures to tackle the incident. It said at the time that the investigation found confidential competitor information was obtained and that an isolated–though minimal–offer of payment for such information had been made by employees, with further disciplinary action taken with certain staff involved in the case.
Write to Joe Hoppe at joseph.hoppe@wsj.com
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