Sigma’s share price edges upwards
Sigma’s share price is edging upwards after being hit by fallout over the wholesaler’s legal fight with the Chemist Warehouse group.
It closed at 89.5 cents on Friday, up from a low of 76 cents. It was $1.19 before it filed court papers against the Chemist Warehouse group.
Sigma had indicated it would take legal action over an alleged breach of an exclusivity agreement.
According to a statement of claim lodged in the Victorian Supreme Court, Sigma entered a supply agreement with the operators of the group in February 2016.
But just a year later, Sigma claims the group’s Mario Verrocchi emailed its CEO Mark Hooper to say the group had been presented with a deal by another CSO wholesaler which “we cannot ignore because of its quantum".
According to the claim, Mr Verrocchi verbally told Mr Hooper in May that if Sigma didn’t match the offer the group