SciSparc (SPRC) Secures Favorable Settlement in Lawsuit It Filed

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Go back to SciSparc (SPRC) Secures Favorable Settlement in Lawsuit It Filed

SciSparc Secures Favorable Settlement in Lawsuit It Filed, Receiving Cash Compensation and a Full Release from All Commitments, Royalties, and Allegations Asserted Against It on Claimed Core Technolog

February 18, 2025 7:17 AM EST

TEL AVIV, Israel, Feb. 18, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announced today that it has reached an important settlement agreement (the Settlement) regarding a lawsuit it filed in February 2022 with the Economic Division of the Tel Aviv-Jaffa District Court against six of the Companys former directors (the Defendants) case number 34426-02-22 (the Suit). The Suit included allegations of breaches of fiduciary duties of the Defendants under the Israeli Companies Law, 1999, relating to... More