ACE.L Share News (ACE)

LONDON (Dow Jones)--Accident Exchange Group PLC (ACE.LN) said Wednesday that Lord Justice Maurice Kay, Vice President of the Court of Appeal--Civil Division--dismissed the Autofocus appeal heard by The Court of Appeal on June 9. MAIN FACTS: -Accident Exchange will now make an application to the High Court to amend the original proceedings in this case to include all of the Autofocus employees against whom it believes has further evidence of dishonesty, it said. -The case against Autofocus therefore continues. -The Company has identified approximately 2,500 cases where the decision of a Court may have been unsound based on the evidence given by employees of Autofocus and where it believes that the hire charges recovered were below the level that should have been awarded, it said. -As a result of the Accident Exchange's investigations, the company believes that all three active team leaders at Autofocus acted with systematic dishonesty during the period under investigation and that it now have sufficient evidence to include the third team leader as a Defendant in the company's primary damages action against Autofocus, it said. -Furthermore, the company believes it has evidence that also implicates two former directors who left Autofocus soon after its initial findings of dishonesty were announced in September 2009, it said. -Shares at 1225 GMT up 1.3 pence, or 11.9%, at 11.8 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires July 14, 2010 08:28 ET (12:28 GMT)