Less Ads, More Data, More Tools Register for FREE

Trinity Mirror Confirms It Will Seek To Appeal Phone Hacking Damages

Thu, 4th Jun 2015 10:20

LONDON (Alliance News) - Trinity Mirror PLC Thursday confirmed its subsidiary MGN Ltd will be seeking permission to appeal the recent ruling over damages it has to pay to eight individuals over phone hacking.

MGN has already accepted it should pay appropriate compensation to the individuals who were targets of phone hacking, but said it believes the basis used for calculating the damages is incorrect, and the amounts awarded by the judge are excessive and disproportionate.

Last month the company was ordered to pay GBP1.2 million to eight phone-hacking victims.

Trinity Mirror said there "remains uncertainty as to how matters will progress", and said further updates will be made if there any significant developments or its estimate of the financial exposure were to change materially.

As a result of the judgement, Trinity Mirror in May increased its provision to handle the ongoing phone hacking trials by GBP16 million.

Shares in Trinity Mirror are trading down 2.8% at 149.26 pence Thursday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved.

Related Shares

More News

Trinity Mirror Shareholders Back Name Change To Reach PLC

LONDON (Alliance News) - Newspaper publisher Trinity Mirror PLC on Thursday said shareholders overwhelmingly backed its name change to Reach PLC.Voting at its annual general meeting, those

3 May 18 15:40

Trinity Mirror Says Ad Trends Better But Snow Hits Circulation Revenue

LONDON (Alliance News) - Trinity Mirror PLC said Thursday it anticipates performance for 2018 to be in line with market expectations, even as like-for-like revenue dropped in the first four the to

3 May 18 10:47

UK Government To Intervene In Trinity Mirror's Deal To Buy Express

LONDON (Alliance News) - The government will intervene in Trinity Mirror's GBP126.7 million deal to buy a string of titles from Richard Desmond's media empire on public interest grounds, a

1 May 18 14:25

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 27 April Royal Bank of ScotlandQ1 ResultsComputacenterTrading Nash Year Year Year

26 Apr 18 16:30

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.