Greenbrook TMS Reports Settlement Of Ongoing Litigation; To Make Payments To Plaintiff In Total Amount Of $2.2M
Portfolio Pulse from Benzinga Newsdesk
Greenbrook TMS has settled a breach of contract lawsuit related to a $2 million promissory note issued to a lender associated with Mr. Benjamin Klein, a seller of Check Five LLC, which Greenbrook acquired in July 2022. The company will pay the plaintiff a total of $2.2 million.
November 21, 2023 | 10:05 pm
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NEGATIVE IMPACT
Greenbrook TMS has resolved litigation by agreeing to pay $2.2 million, which may impact its financial position in the short term.
The settlement of the lawsuit for $2.2 million is likely to have a negative impact on Greenbrook TMS's short-term financials due to the cash outflow. Investors may react negatively to the news of the settlement payment, which could lead to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100