Reported Earlier, Check-Cap's Board Informs Shareholders That Israeli Court Rejected All Claims Raised By Symetryx

Author: Benzinga Newsdesk | December 15, 2023 03:08am

The Board of Directors wishes to inform shareholders and the broader investment community that on December 12, 2023, Check-Cap won a motion filed by Symetryx in Israeli court, with the Court rejecting all claims raised by Symetryx, including those purportedly related to a personal interest or conflict of interest of Check Cap's Board of Directors in the Keystone business combination.

With this letter, Check-Cap is correcting the false and misleading statements published by Symetryx in its press release on December 13, 2023.

• The Economic Department of the Haifa District Court on December 12, 2023, rejected each and every claim raised by Symetryx, including any claim of potential conflict of interest of the Check-Cap Board of Directors in the approval of the Keystone – Check-Cap business combination, and ordered Symetryx to pay Check-Cap's expenses incurred in connection with the legal proceeding in the amount of NIS 15,000. Symetryx failed to disclose this information in its press release.
   

• Symetryx also claimed incorrectly that Yuval Yanai, one of the current Check-Cap Board members, was a board member of Minerva Surgical and Exalenz Biosciences with which the current Chairman of Keystone was associated as an investor or CEO. Mr Yanai was not a Board member or affiliated with either company in any way. Though Board membership on another company does not necessitate a conflict of interest, it is a direct example of false and misleading information published by Symetryx.

Posted In: CHEK