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Daily consumer goods maker Dabur has got relief from a US court. Charges against two of its foreign subsidiary units, Dabur International and Dermoviva Skin Essentials, have been dropped. Share prices of the company were seen rising on Thursday morning. By 9.25 am, the intra-day high was Rs. 532.15 per share.
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what is the matter
One of the defendants in several lawsuits filed in US court alleged that their hair-relaxer products caused uterine cancer and other related health problems. Dabur said in a statement on Wednesday that charges against its third international subsidiary, Namaste Laboratories LLC, in the case will remain and the trial will continue before the US District Court for the Northern District of Illinois.
For the third year in a row, the company announced bonus shares worth less than Rs 100
What did the company say?
Dabur International and Dermoviva were excluded from the case due to lack of jurisdiction, the statement said. They received relief from many lawsuits because they no longer manufacture, market, distribute or sell hair relaxer products in the US. “We would like to reiterate that Namaste is confident in the safety of its products, and believes that this lawsuit has no legal merit,” Dabur said. These allegations are based on unsubstantiated and incomplete studies.