BUZZ-Australia's Next Science plunges on litigation filed by ex-employee

Reuters

2025/01/08

** Next Science NXS.AX slumps as much as 13% to record low of A$0.1; set for weakest trading session since October 2024

** Medical tech firm says a former employee filed litigation in the U.S., alleging breaches of fiduciary duties and mismanagement against several employees

** Litigation makes several claims - that certain tech has not been approved by U.S. FDA and that co did not take sufficient measures to address safety concerns about the use of its surgical solution in breast implant procedures

** Co says its products are safe, effective and FDA-approved

** Stock fell 66.2% in 2024

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((manasi.dasasundeep@thomsonreuters.com))

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