5th Aug 2011 10:30
Juridica Investments Limited
('Juridica' or the 'Company')
Portfolio update
Juridica, a leading provider of strategic capital to both businesses and the legal markets for corporate claims, provides the following portfolio update on the progress in its investment in Case 0808-C, as a supplement to its announcement of 5 July, 2011.
Case 0808-C is an investment in two separate but related patent infringement cases, both of which are multi-defendant. One of the cases recently completed trial and the jury returned a verdict in favour of the plaintiff on all liability issues, but awarded only modest damages. The case remains subject to post-trial motions and possible appeals by both sides. In the absence of settlement on terms different from the damages awarded by the jury and if the current award of damages is upheld, the Company would not likely receive any benefit from the award. A further update will be provided when the case reaches completion.
The second case remains in advanced pre-trial status. The Company's single investment covers both cases.
The above disclosure is being made to provide shareholders with an update to the Company's previous announcement about this investment. Juridica's investments are subject to a significant degree of risk including risks surrounding judgment, timing, and damages. The Company performs significant due diligence to mitigate such risks but, given the nature of litigation, no assurance can be given that any investment will conclude successfully, within its expected timeframe or range of damages.
Richard W. Fields, Chairman and Chief Executive of Juridica Capital Management, the Investment Manager, said: "We continue to monitor both of the cases in this investment and others in the portfolio very closely as we have several that are reaching an advanced stage of development."
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For more information please contact:
Juridica Capital Management Limited Richard Fields, Chief Executive
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+1 866 443 1080 |
Cenkos Securities plc (Nominated Adviser and Broker) Nicholas Wells Camilla Hume
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+44 (0)20 7397 8900
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Peel Hunt LLP(Joint Broker)Guy WiehahnEmma Riza
| +44 (0)20 7418 8900 |
Pelham Bell Pottinger David Rydell Olly Scott
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+44 (0)20 7861 3232
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About Juridica
Juridica is a leading provider of capital to the business community and the legal market. It invests directly and indirectly in a diversified portfolio of commercial claims and disputes. The Company's objective is to be the premier source of value-added and direct financing or large business claims, especially in the United States and the United Kingdom.
Our clients are Fortune 1000 companies, FT Global 500 companies, small businesses, inventors, major universities and the leading law firms that represent them. Juridica accepts only cases that have already been carefully vetted and accepted by qualified lawyers, does not invest in speculative cases and accepts only a small fraction of the cases reviewed.
The Company focuses exclusively on business-to-business related claim investments. It does not invest in shareholder class actions, personal injury, product liability, or mass tort claims.
Juridica was established on 21 December 2007 as a limited liability, closed-ended investment company registered in Guernsey. It has over US$200 million of assets under management and is listed on AIM, a market operated by the London Stock Exchange (AIM: JIL).
The Company has appointed Juridica Capital Management Limited as its exclusive investment manager to locate, select and manage direct and indirect investments in cases, claims and disputes.
For more information visit Juridica at http://www.juridicainvestments.com
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