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ACET > SEC Filings for ACET > Form 8-K on 1-Nov-2012All Recent SEC Filings

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Form 8-K for ACETO CORP


Other Events

Item 8.01 Other Events

On October 29, 2012, a lawsuit was filed in the United Kingdom by United Phosphorous Limited ("UPL") against Aceto Agricultural Chemicals Corporation ("AACC"), a wholly-owned subsidiary of the Registrant, Aceto Corporation.

In the lawsuit, UPL alleges, among other things, that AACC breached a 1995 agreement regarding European sales of a potato sprout suppression product, by selling the product in Europe. UPL claims damages of approximately 4.5 million (approximately US$7.2 million) plus an unspecified amount of additional damages.

While the impact of the resolution of the matter, including any legal and other associated costs, on Aceto Corporation's consolidated results of operations in a particular reporting period is not known at this time, after a detailed review and careful analysis of the allegations, AACC strongly denies the allegations, believes that UPL's claims are without merit and intends to vigorously defend the lawsuit.

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