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Nufarm Limited (ASX:NUF) has conditionally agreed to pay $43.5 million to settle a class action relating to proceedings that began early last year.
The agricultural manufacturer says the settlement covers claims made on behalf of shareholders, who acquired shares from September 2009 to August 2010.
The fee Nufarm has agreed to pay covers the claims, interest and the costs of the litigation funders and applications legal fees.
If the settlement is approved by court, the class action will be dismissed and the payment will be recorded as a material item in the company’s full year results.
In the first half of the 2012 financial year Nufarm reported a net profit of $18 million.
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