(Sharecast News) - Infrastructure and support services group Stobart said former chief executive Andrew Tinkler has lost his appeal against the High Court defeat over his dismissal.
Back in February, the company - which owns Southend Airport - won a court case against its former CEO, who claimed he had been unlawfully removed as an executive director in June 2018.
Tinkler later applied for permission to appeal aspects of the judgment, but this has been refused by the Court of Appeal.
"The board will provide further updates to shareholders on proceedings as required," Stobart said.
At 1530 BST, the shares were up 3.1% at 106.80p.