Litigation: confidential settlement reached with a Defendant

Litigation: confidential settlement reached with a Defendant 

Invion Limited (ASX:IVX) advises the following in relation to the action to recover approximately $1.2 million from four former executives (as disclosed in previous financial reports and other announcements):

  • The company has reached a confidential settlement with one of the Defendants to the litigation, pursuant to which the Defendant has agreed, with no admission as to liability, to repay the purported Termination Payment to the Plaintiff together with a sum representing interest and costs.

Invion will continue to vigorously pursue its claim against the remaining Defendants, which includes interest and costs.

 

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