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Holista Colltech Limited ( (AU:HCT) ) has issued an announcement.
Holista Colltech has been ordered by the Supreme Court of Western Australia to satisfy a US$2.06 million US judgment obtained by The ProImmune Company over alleged breaches of minimum performance obligations under distribution agreements for Immune Formulation 200®. The court rejected Holista’s attempt to rely on a misleading or deceptive conduct cross-claim as an equitable set-off, but that claim will continue as a separate proceeding.
In response to the adverse ruling, Holista’s board has agreed a negotiated settlement with ProImmune for a reduced total of US$1.8 million, including a US$1 million payment now and US$800,000 due by mid-July 2026, with a previously paid US$500,000 deposit counted toward the deal. The board says the discounted settlement, compared with an estimated US$2.4 million exposure including interest and fees, is in shareholders’ best interests as it limits further legal costs, uncertainty, and balance-sheet risk from ongoing litigation.
More about Holista Colltech Limited
Holista Colltech Limited is an ASX-listed company involved in health and wellness products, including specialty formulations such as Immune Formulation 200®. The company operates through distribution agreements in international markets, exposing it to cross-border commercial and legal arrangements that can materially affect its financial position.
Average Trading Volume: 42,236
Technical Sentiment Signal: Buy
Current Market Cap: A$23.17M
For detailed information about HCT stock, go to TipRanks’ Stock Analysis page.