Scilex Holding Says On Jan 26 & Feb 2, Scilex Pharma Got Into Two Separate Settlement Agreements & Mutual Releases With Two Manufacturers; Resolves Action Dated Feb 23, 2021; Terms Of Two Separate Settlement Agreements Are Confidential
Portfolio Pulse from Benzinga Newsdesk
Scilex Holding announced that Scilex Pharma entered into two separate settlement agreements with two manufacturers on Jan 26 and Feb 2, resolving a legal action from Feb 23, 2021. The terms of the settlements are confidential, according to an SEC filing.
February 16, 2024 | 6:14 pm
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Scilex Holding's subsidiary, Scilex Pharma, has resolved a legal action from 2021 through confidential settlements with two manufacturers.
The resolution of legal actions typically removes uncertainty and potential financial liabilities for companies, which can be viewed positively by investors. The confidentiality of the settlements suggests that the terms were agreeable to all parties involved, potentially avoiding further legal costs or damages. This development is likely to be seen as a positive outcome for Scilex Holding, potentially leading to a short-term positive impact on its stock price.
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IMPORTANCE 75
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