It's been a long running saga that began when Andy Hopkins left AMA Group and the board filed court proceedings against him back in May 2021. Allegations centred around inappropriate use of company money for various purposes including cars for Hopkins family, Hopkins denied the claims and lodged a counter claim.
An AMA Group announcement on the ASX said that 'the case has been settled on agreed terms between AMA Group and Mr Hopkins. As part of that confidential settlement:
▪ Mr Hopkins and his company, Cedarfield (together, the Hopkins Parties) without any admission, are to pay AMA Group a confidential sum of money and have agreed to release AMA Group from any claims relating to Mr Hopkins’ role as former CEO and their prior business relationship; and
▪ the AMA Parties (AMA Group and AMA Group Solutions) have agreed to release the Hopkins Parties from claims relating to Mr Hopkins’ role as former CEO and their prior business relationship with the AMA Parties any restraints.
The Board of AMA Group Limited is pleased that the matter is now resolved and with the outcome of the proceedings.'
Other legal proceeding filed against former AMA Group executives have also been resolved.