The ASX baby formula hopeful is involved in escalating legal action against its US distributor, who is alleging it lost $200 million after its deal failed.
A high-profile New York infant nutrition expert with whom Care A2 Plus claims to have worked with says she rejected multiple approaches to consult for the company.
Care A2, in documents filed in the Federal Court as part of dispute with its distributor, said it had “worked with world-renowned expert, Dr Bridget Young from the University of Rochester, New York, and undertook research into the nutritional properties in infant formulas to enhance the existing Care A2+ formula that had been available in Australia since ... 2020”.
. Care A2 denies the allegations. Last week, the Australian company escalated the dispute, alleging Gensco breached their agreement, and failed to act in good faith. Gensco said Care A2’s allegations “are without foundation”. But a University of Rochester Medical Centre spokesman said, “Any use of Dr Young’s name or likeness to imply endorsement of a Care A2 product was done without her knowledge or consent, and there is no legitimate reason for her to be named in litigation involving the company”.
Care A2 has repeatedly told investors about its listing prospects. In October, its parent entity, Care Corporation, suggested it would be valued at as much as $544 million in a listing that would have been conducted by Morgans.
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