Phoslock Environmental Technologies Limited ( (AU:PET) ) has shared an update.
Phoslock Environmental Technologies Limited is involved in ongoing legal proceedings in the Federal Court of Australia. Initially named as a respondent in preliminary discovery proceedings by Levitt Robinson, the company has seen these proceedings dismissed, with costs to be paid by the applicants. However, separate proceedings by the Banton Group continue, and PET is working with legal advisors to recover incurred costs. This development may impact the company’s financial obligations and legal strategy.
More about Phoslock Environmental Technologies Limited
Phoslock Environmental Technologies Limited (ASX: PET) is a company that specializes in water treatment products aimed at remediating polluted lakes, rivers, canals, and drinking water reservoirs. Headquartered in Sydney, with operations in China and representation in various countries, PET’s primary product is Phoslock®, a lanthanum modified bentonite (LMB) that binds excess phosphorus to improve water quality and biodiversity without harming living organisms.
YTD Price Performance: 25.00%
Technical Sentiment Signal: Buy
Current Market Cap: A$15.63M
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