Reported Earlier, Check-Cap's Board Informs Shareholders That Israeli Court Rejected All Claims Raised By Symetryx
Portfolio Pulse from Benzinga Newsdesk
Check-Cap Ltd. (CHEK) announced that the Israeli court has rejected all claims made by Symetryx against the company, including those related to alleged conflicts of interest of Check-Cap's Board of Directors in the Keystone business combination. The court also ordered Symetryx to pay Check-Cap's legal expenses. Check-Cap is addressing false statements made by Symetryx in a press release, clarifying that board member Yuval Yanai has no affiliation with Minerva Surgical and Exalenz Biosciences, contrary to Symetryx's claims.
December 15, 2023 | 7:08 am
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POSITIVE IMPACT
Check-Cap Ltd. won a legal motion against Symetryx, with the court rejecting claims of conflict of interest and ordering Symetryx to pay legal fees. The company is also correcting misinformation spread by Symetryx.
The positive legal outcome for Check-Cap is likely to reassure investors and could lead to a short-term positive impact on the stock price. The court's decision removes a cloud of uncertainty and the company's proactive communication to correct misinformation demonstrates strong corporate governance, which is typically viewed favorably by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100