 "Malvinder Singh and Shivinder Singh")
Singapore’s High Court has rejected an appeal from Shivinder and Malvinder Singh and upheld an earlier order that they must pay $526 million to Daiichi Sankyo, according to people familiar with the matter.
The verdict is the latest court victory for the Japanese drugmaker as it seeks to enforce a finding by a Singapore tribunal that the Singhs concealed information during the sale of their Ranbaxy Laboratories a decade ago. Ranbaxy plead guilty to the distribution of adulterated drugs and had to pay the US Department of Justice a $500 million penalty in 2013 after Daiichi bought it from the Singhs.
