India, Feb. 18 -- Specialty clinical-stage pharmaceutical company, SciSparc Ltd. (SPRC) Tuesday announced a settlement agreement regarding a lawsuit with the Economic Division of the Tel Aviv-Jaffa District Court against six of the Company's former directors. Through a mediation, the company will be entitled to a $411,000 cash payment from the Defendants, in exchange for the full dismissal by SciSparc of the alleged claims.
Currently, shares are gaining 5.16 percent at $0.52.
The Settlement also includes the termination, effective as of February 5, 2024 of a disputed licensing agreement with Dekel Pharmaceuticals Ltd., a company controlled by its former Chairman and CEO Ascher Shmulewitz. SciSparc said it will retain its exclusive global ...