Juridica Investments disappointed with US court payout
Shares in Juridica Investments, the legal claims investor, took a dive after a US jury paid out less than expected in a corporate dispute.
Financial Services
16,492.39
15:44 15/11/24
-0.24%
-40.16
FTSE AIM All-Share
728.67
15:45 15/11/24
n/a
n/a
Juridica Investments Ltd.
1.48p
16:44 20/12/18
0.00%
0.00p
AIM-listed Juridica and the plaintiff, which sued a much larger rival for theft of a trade secret, said they were considering whether there are grounds to appeal the low damages awarded in 'Case 5009-S'.
The case has completed and, in spite of a full win on liability, Juridica said the jury "only awarded an amount which will result in a return to the company of approximately $2.0m", which is well short of its original investment of $3.5m and the $9.4m valuation of the case it had attributed in June.
Juridica's shares were down 19% to 53.9p by midday on Monday.