Case against Touchwood Investments dismissed

Touchwood Investments last week said that the case (DC Colombo Case No. 3334/08/DMR) filed by a former shareholder of Touchwood Investments PLC alleging that Touchwood and its Directors caused him loss and damage was dismissed when it was taken up on 11th October 2010 in the District Court of Colombo.

The Plaintiff had filed action against the Directors on account of the fall in the value of Touchwood shares,

“While Touchwood was prepared for its case, having filed a list of witness and documents including experts in the fields of Agro Forestry, Valuation and Accounting, the Plaintiff had filed a motion, through his lawyers, making an application to withdraw the case. Accordingly the case against Touchwood and its Directors was dismissed,” the Company said in a statement.