(Alliance News) - Nusco Spa reported that, on Dec. 19, the Naples Court of Appeals issued a ruling against Mario Felice Nusco and Luigi Nusco for the offenses of misrepresentation.

The two were accused of failing, as withholding agents, to pay statutory contributions to the Treasury for the years 2012 to 2014.

The Court of Appeals, reviewing the first-instance ruling of the Court of Nola, declared that Mario Felice Nusco did not have to be prosecuted due to the statute of limitations having expired and, as a result, revoked the confiscation ordered against him and the immediate return of any assets attributable to him that may still be seized.

Again, he declared that there was no need to proceed against Luigi Nusco due to the intervening statute of limitations for the offenses of misrepresentation, and re-set the sentence imposed on Luigi Nusco at one year and eight months of imprisonment, with the benefit of suspended sentence, revoking the confiscation ordered against him and the company, and ordering the immediate return of any assets attributable to him that may still be in seizure.

Fusco's defense attorney, Angelo Pignatelli, has pre-announced an appeal to the Supreme Court for Luigi Nusco.

Nusco's stock is up 0.9 percent at EUR1.19 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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