Microbot Medical Announced Settlement and Release Agreement, Effectively Resolving all Associated Legal Matters
Portfolio Pulse from Charles Gross
Microbot Medical Inc. (MBOT) has reached a settlement in a lawsuit filed in 2020 by Empery Asset Master Ltd. and others related to a 2017 securities purchase agreement. The settlement will not affect Microbot's cash position or balance sheet as the cash payable to the plaintiffs is covered by insurance.
January 30, 2024 | 12:23 pm
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Microbot Medical's settlement of the 2020 lawsuit removes legal uncertainties and preserves the company's financial stability as insurance covers the settlement costs.
The resolution of legal disputes typically removes overhang on a company's stock and can be viewed positively by investors. The fact that the settlement will not impact Microbot's cash position or balance sheet is particularly positive, as it does not strain the company's financial resources. This news is likely to be seen as a positive development in the short term.
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