Cadbury shareholder sues firm

A Cadbury shareholder is suing the confectioner’s board and chief executive, saying investors “stand to lose out massively” if the company refuses to negotiate over a £10.2bn takeover proposal from American rival Kraft Foods. The lawsuit, filed in US District Court yesterday by Steward International Enhanced Index Fund, seeks class action status and names Cadbury chief executive Todd Stitzer, chairman Roger Carr and the company’s board of directors as defendants. Cadbury said: “We have not received any papers in relation to this action and therefore are unable to comment.”