LONDON (Alliance News) - Minds + Machines Group Ltd said Thursday that former Executive Chairman Fred Krueger and all other plaintiffs have dismissed their lawsuit against the company following a tolling agreement between the parties.
Back in February, Krueger filed a lawsuit against the company in relation to shares that were issued to him in 2007.
Thursday the company said that it and other defendants named in the dismissed suit have made no settlement, monetary or otherwise, and have admitted no liability.
Details of the tolling agreement were not disclosed, but Minds + Machines said that the agreement provides that, if the plaintiffs refile their suit, any statute of limitation defences of the defendants will be based on the date of the filing of the dismissed suit, February 23, but "will not be deemed to revive any of the plaintiffs' causes of action, claims, rights, legal positions, or defences, at law or in equity, that were time-barred prior to 23 February 2016."
Shares in Minds + Machines were up 2.0% at 9.31 pence Thursday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
