litigation
confidence high
sentiment negative
materiality 0.85
SolarWindow sued for breach of stock purchase agreement; court enjoins share transfers
SolarWindow Technologies, Inc.
- Kalen Capital seeks return of 32,984,331 common shares, 16,780,167 cash warrants, and 1,781,750 cashless warrants from LQE.
- Purchase price was $47.50 million CDN; LQE failed to pay by April 7, 2022 deadline and did not return shares.
- BC Supreme Court issued order on May 16, 2022 enjoining LQE, Rhee, Ko, and SolarWindow from dealing with the securities.
- SolarWindow was served on June 9, 2022; answer due by July 13, 2022 (35 days for US defendants).
- Plaintiffs also seek damages for breach of contract and a constructive trust over the shares.