Why Are BurgerFi International Shares Up By More Than 100%?
Portfolio Pulse from Vaishali Prayag
BurgerFi International Inc. (NASDAQ:BFI) shares surged by 128% following a legal settlement with Lion Point Capital. The settlement involves a payment of $1,350,000 and the issuance of 300,000 shares of preferred stock, resolving a lawsuit without admission of fault.
July 26, 2024 | 7:24 pm
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BurgerFi International Inc. (NASDAQ:BFI) shares surged by 128% following a legal settlement with Lion Point Capital. The settlement involves a payment of $1,350,000 and the issuance of 300,000 shares of preferred stock, resolving a lawsuit without admission of fault.
The legal settlement removes uncertainty and potential litigation costs, which is viewed positively by investors, leading to a significant surge in the stock price.
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RELEVANCE 100