Agreement ends lawsuit against Minds + Machines

The AIM-traded firm had initially announced the lawsuit on 26 February, saying it related to five million shares of the company’s stock issued to Krueger in 2007.

At the time, its board said it believed Krueger’s claims were “without merit”.

On Thursday, the board confirmed the dismissal, saying it was pursuant to a tolling agreement between the parties.

“The company and other defendants named in the dismissed suit have made no settlement, monetary or otherwise, and have admitted no liability, with respect to the entering into of the tolling agreement and dismissal of the suit,” Minds + Machines’ board said in a statement.

It added that the tolling agreement provides that if the plaintiffs refile their suit, that any statute of limitation defenses of the defendants will be based on the date of the filing of the dismissed suit - 23 February 2016 - but will not be deemed to revive any of the plaintiff’s causes of action, rights, legal positions or defenses, at law or in equity, that were time-barred prior to that date.