Livanova PLC is currently involved in ongoing litigation concerning environmental liabilities inherited through its merger with Sorin. The Court of Appeal of Milan had previously held Livanova jointly and severally liable with SNIA, Sorin's former parent company, for these liabilities. Recently, the Italian Supreme Court issued a decision on appeals from both Livanova and the Italian government, referring the case back to the Court of Appeal to finalize costs and damages. As a result, Livanova has recorded a liability of €333.3 million ($360.4 million) for the first quarter of 2025, encompassing estimated costs, fees, interest, and taxes. Despite a filing from the Ministry of Ecological Transition, the Ministry of Economy and Finance, and the Prime Minister's Office, Livanova plans to challenge the ministry's assertions, maintaining that the liability recorded is accurate and consistent with the Supreme Court's judgment. The company has not adjusted its full-year 2025 financial guidance following this development.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.