Innovation Pharmaceuticals Inc (IPIX) has released an update.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
The Company had filed a lawsuit against Cummings Properties, LLC seeking to confirm that their lease ended in September 2018 rather than extending for five more years. However, on January 18, 2024, the Court sided with Cummings, awarding them liquidated damages of $810,251.36, accounting for a security deposit and interest since January 2020. The Company plans to appeal the ruling.
For further insights into IPIX stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.