The founder and chairman of Care A2 Plus are being sued in a US court by a former distribution partner.
Care A2 Plus had attempted to block Gensco Pharma from filing the US legal action but the Federal Court dismissed that move this week.
The founder and chairman of Care A2 Plus misled regulators in the United States in a bid to enter the lucrative infant formula market, increase its valuation and “personally receive a windfall” from an ASX-listing, the company’s former distribution partner has claimed in a Florida court.
Care A2 Plus founder Dominic Galati is being personally sued, along with chairman Walter Bungo and chief executive Steve Loader, by Gensco Pharma, which alleges the company incorrectly told the US Food and Drug Administration (FDA) that it had more than 1 million formula tins ready to ship.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
