Elife Holdings (HKG:0223) has received notice of a legal proceeding filed on April 15 by a claimant alleging breaches of representations and warranties related to a fund-raising transaction.
The claimant is seeking unspecified damages, costs, and other remedies, according to the company's Tuesday bourse filing.
The company said the transaction occurred before the recent board reconstitution on March 11, and is currently assessing the potential impact and seeking legal advice, reserving all rights, including the possibility of a counterclaim.
Trading of the company's shares on the Hong Kong Stock Exchange has been suspended since Dec. 2, 2024 and will remain so until further notice.
Price (HKD): $0.11, Change: $-0.0020, Percent Change: -1.80%
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