Big Technologies Provides Litigation Update
Why we think this is neutral
This RNS announcement provides an update on ongoing litigation between the company and its former CEO, Sara Murray, as well as other associated entities. The update outlines the various undertakings provided to the High Court and Guernsey Court to not dissipate assets up to certain specified amounts. As this is a general litigation update and does not contain any of the mandatory news types, I have assigned a neutral sentiment score.
Key Points
- Big Technologies has obtained undertakings from Sara Murray and associated entities not to dissipate assets up to £320 million
- Undertakings have also been provided by other defendants in the claim, with asset limits ranging from £48.5 million to £150 million
- The undertakings will remain in place until the final determination of the claim
- Deadline for defendants to file defences is 25 June 2025
Summary
Big Technologies PLC has provided an update on the legal proceedings it has initiated against its former Chief Executive Officer, Sara Murray, and certain associated entities. The company has obtained undertakings from the defendants not to dissipate assets up to specified amounts, which will remain in place until the final determination of the claim. The deadline for the defendants to file their defences is 25 June 2025, and the company will provide further updates as appropriate.