Can-Fite BioPharma Appeals Lawsuit Against Venture Capital Firm


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


Can-Fite BioPharma (NYSE:CANF) 6-K shows the company filed an appeal with the Supreme Court of Israel of a decision related to the convening of a special shareholder meeting to replace directors.

On June 13, Can-Fite BioPharma filed a lawsuit against Capital Point Ltd; its co-CEOs, Shay Itzhak Lior and Yossi Tamar; its chairman, Dr. Shuki Gleitman; and its major shareholders, Shir Roichman and Yehuda Kahane, in the District Court of Tel Aviv.

The lawsuit alleges that Capital Point engaged in improper conduct by unlawfully requesting that the company convene a shareholder meeting to replace its directors. Can-Fite BioPharma is suing for damages of NIS 40 million (approximately $11.1 million). 

A related action Can-Fite BioPharma initiated against Capital Point in the District Court of Tel Aviv is still pending.

Can-Fite BioPharma shares were trading flat at $2.91 at the time of publication Wednesday. The stock has a 52-week high of $25.95 and a 52-week low of $2.66.

Related Links:

Amneal Announces Restructuring Plan, Cuts Guidance

Altimmune To Acquire Spitfire Pharma For $5M, Add NASH Drug To Portfolio

The Supreme Court of Israel. Photo by israeltourism/Wikimedia


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Posted In: BiotechNewsLegalGeneral