XWELL Comments On CPC's Withdrawal Of Threatened Proxy Fight And Related Lawsuit; Says "We Are Pleased That CPC Decided To Withdraw Its Threatened Proxy Fight And Lawsuit Against XWELL Related To Our 2024 Annual Meeting. We Are Fully Focused On Delivering On Our Strategic Plan To Drive Durable, Long-Term Value Creation For Stockholders"
Portfolio Pulse from Benzinga Newsdesk
XWELL, Inc. (NASDAQ:XWEL) announced that CPC Pain & Wellness SPV, LLC has withdrawn its threatened proxy fight and related lawsuit against the company. XWELL is now focused on executing its strategic plan to create long-term value for its stockholders.
August 13, 2024 | 9:08 pm
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CPC Pain & Wellness SPV, LLC has withdrawn its threatened proxy fight and related lawsuit against XWELL, allowing the company to focus on its strategic plan for long-term value creation.
The withdrawal of the proxy fight and lawsuit removes a significant overhang on XWELL's stock, allowing the company to focus on its strategic initiatives. This is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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