Complaint Filed Against ElectraMeccanica In Connection With Termination Of Arrangement
Portfolio Pulse from Benzinga Newsdesk
ElectraMeccanica Vehicles Corp. (NASDAQ:SOLO) has been sued by Tevva Motors Limited for breach of contract, defamation, and tortious interference in connection with the termination of an arrangement agreement. The complaint seeks $75 million in damages and injunctive relief, including preventing ElectraMeccanica from completing a merger with any other partner and requiring it to complete the arrangement with Tevva. ElectraMeccanica intends to defend its position and pursue its own legal rights against Tevva.
November 07, 2023 | 9:56 pm
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ElectraMeccanica is facing a lawsuit from Tevva Motors, which could potentially impact its financial position and future merger plans.
The lawsuit filed by Tevva Motors against ElectraMeccanica could potentially lead to significant financial liabilities if Tevva is successful. Additionally, the injunctive relief sought by Tevva could impact ElectraMeccanica's ability to pursue other merger opportunities, which could have a negative impact on its business strategy and growth prospects.
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