Gallagher details that it was looking into the possibility of buying Towergate, Iridium and a 20% share in Autonet and that the three defendants diverted these opportunities by dealing with Highbridge and BAML on their own behalf from 8 December 2014.
In their defences, Ross, Mugge and Keey deny the accusations and claim that Gallagher was never going to go through with these deals including because the group board had put a $30m [£19.5m] threshold on acquisitions in May 2014.
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