CPC Pain & Wellness SPV Issues Letter To Fellow XWELL, Inc. Shareholders; Says Under The Leadership Of The Incumbent Board, Led By Chairman Bruce Bernstein, XWELL Has Reported A Combined Net Operating Loss Of $207.3M From 2018 Through 2023
Portfolio Pulse from Benzinga Newsdesk
CPC Pain & Wellness SPV, LLC, a significant shareholder of XWELL, Inc., has issued a letter to fellow shareholders detailing a lawsuit against XWELL's Board of Directors. CPC criticizes the Board for a combined net operating loss of $207.3 million from 2018 to 2023 and a 99% decline in stock value since 2016. CPC aims to replace the current Board to improve financial health and explore strategic acquisitions.
July 24, 2024 | 1:16 pm
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CPC Pain & Wellness SPV, LLC has filed a lawsuit against XWELL's Board of Directors, citing significant financial losses and a drastic decline in stock value. CPC aims to replace the Board to improve financial health and explore strategic acquisitions.
The lawsuit and CPC's push to replace the Board could lead to significant changes in XWELL's governance and strategy, potentially improving financial health and shareholder value. This news is highly relevant and important for XWELL investors.
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