PropNex (SGX:OYY) subsidiary, PropNex Realty, was named as one of three co-defendants in a lawsuit filed in the High Court of Singapore, according to a Monday filing with the Singapore Exchange.
According to the lawsuit, claimants are seeking damages against PropNex Realty for alleged breach of duty of care and seeking compensation of around SG$367,405 in damages.
The company is currently in the process of obtaining legal advice and will take steps to defend the suit.
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.