Sirnaomics Sues Former Executives Over US$20M Investment

MT Newswires Live

Aug 17

Sirnaomics (HKG:2257) and its wholly owned subsidiary, Sirnaomics (Hong Kong) Limited, filed a Writ of Summons in Hong Kong's High Court against former management members over the group's approximately US$20 million investment in a segregated portfolio of TradArt Flagship Investment.

The case, filed against Lu Yang, Xiaochang Dai and Yip Wing Kei, alleges breaches of duties and unauthorized handling of the investment, according to a Friday Hong Kong bourse filing.

Sirnaomics is seeking damages, compensation, interest and costs.

Shares of the biotechnology company fell nearly 1% in Monday's trade.

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