As previously reported in relation to the case of Cavotec vs. Michael Colaco et al, both parties filed petitions for the court to settle the amounts owed by each party in the case. The Superior Court of California has now entered a judgment and instructed Cavotec to make a payout of USD 9.1 million.The judgment is in line with Cavotec's expectations as reflected in the reported 2018 accounts. The cash charge is expected to be recorded in the May accounts.
ENDS
For further details please contact:
Johan Hähnel
Investor Relations Manager
Telephone: +46 70 605 63 34
Email: investor@cavotec.com
This is information that Cavotec SA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09.00 CEST on 20 May 2019.
Attachment
- Press Release 20 May 2019 (https://ml-eu.globenewswire.com/Resource/Download/51815f8d-1f05-43e9-b7f4-0cb40ae68e98)