16th Nov 2015 08:25
LONDON (Alliance News) - Juridica Investments Ltd said Monday that it will see a return of USD2.0 million in relation to a recently completed legal case, below its original investment of USD3.5 million.
Juridica provides strategic capital for corporate legal claims. A recent case, 5009-S, which involved a theft of trade secret dispute brought by a smaller plaintiff against a much larger company, has been completed. Although there was a full win on liability, the jury only awarded an amount that will result in Juridica receiving USD2.0 million.
This falls below the USD3.5 million it had invested originally in the case, and a valuation of USD9.4 million related to the case in its net asset value as at the end of June.
The plaintiff and its advisers are considering whether there are grounds to appeal the low damages, Juridica said.
Shares in Juridica were down 15% at 56.34 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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