High Court strikes out five Web Summit shareholder actions after settlement

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

The High Court struck out five civil actions involving Web Summit shareholders after the parties settled their dispute last month. There was no order on legal costs. Mr Justice Michael Twomey said he was “happy” to strike out the actions.

The settlement details were not disclosed in court. The dispute included claims by Paddy Cosgrave against David Kelly alleging breaches of directors’ duties, and claims by Kelly and Daire Hickey alleging shareholder oppression and breaches of a profit-sharing agreement. Those allegations were not adjudicated in the reported outcome.