Neptune Wellness Said On Aug 23, Arbitrator Awarded PMGSL Holdings $2.2M Plus Attorney Fees And Expenses Totaling ~$4M Finding Neptune Failed To Provide Administrative Assistance In Removing Legends On Common Shares Issued To PMGSL
Portfolio Pulse from Charles Gross
Neptune Wellness has been ordered by an arbitrator to pay PMGSL Holdings $2.2M plus attorney fees and expenses totaling around $4M. The decision was made on the grounds that Neptune failed to provide administrative assistance in removing legends on common shares issued to PMGSL.
August 25, 2023 | 10:47 am
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Neptune Wellness has been ordered to pay PMGSL Holdings $2.2M plus attorney fees and expenses totaling around $4M. This could potentially impact the company's financials and investor sentiment.
The news of Neptune Wellness being ordered to pay a significant amount due to a legal dispute could negatively impact investor sentiment, potentially leading to a decrease in the company's stock price in the short term. The financial burden of the payment could also impact the company's financials.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100