litigation
confidence high
sentiment neutral
materiality 0.60
Regen Biopharma settles ChemDiv lawsuit for $800k, contingent on SEC filing by Sept 24
Regen BioPharma Inc
- Regen to pay $800k lump sum by Sept 30, 2021, to settle ChemDiv's breach-of-contract lawsuit over ~$1.2M unpaid invoices.
- Settlement contingent on Regen filing acceptable SEC documents by Sept 24 to maintain listing status.
- Upon payment, ChemDiv dismisses litigation with prejudice and transfers NR2F6 research data, compounds, and IP to Regen and Zander.
- If payment not made by Sept 30, agreement void and litigation continues with trial set for Oct 29, 2021.