Cyclopharm Says Insurer Assumes Conduct of Defense Against 4DMedical Lawsuit In Victoria Supreme Court, Shares Jump 11%

MT Newswires Live

Jan 27

Cyclopharm (ASX:CYC) confirmed that its insurer accepted indemnity regarding proceedings brought by 4DMedical (ASX:4DX) in the Supreme Court of Victoria against the firm and the insurer assumed conduct of the defense on Cyclopharm's behalf, according to a Tuesday Australian bourse filing.

4DMedical sued the firm over allegedly misleading comments made during a March webinar, claiming the comment about its capital raising statements was false and misleading, and alleging that it caused damage to the company.

Its shares jumped 11% in recent trading on Tuesday.

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