Litigation Update (8314T)

TIDMIMTK

RNS Number : 8314T

Imaginatik PLC

13 December 2011

Imaginatik plc

("Imaginatik" or the "Company")

Litigation Update

Imaginatik plc (AIM: IMTK), a leading provider of enterprise innovation services including a range of technology products and consultancy is pleased to announce the successful outcome of litigation against its former CEO, Mark Turrell.

Over the last year the Company and Mr Cooper, Executive Chairman of the Company, have brought litigation proceedings against Mr Turrell, in connection with a number of actions which he has undertaken in respect of them which have been against their interests. The Company and Mr Cooper issued proceedings against him in the High Court in respect of actions for defamation and for breaches of confidence. On 13 June 2011, pursuant to an Order of Sharp J in the High Court, judgment was awarded in favour of both the Company and Mr Cooper in respect each of these actions and on the terms sought.

On 12 December 2011 the claimants were informed that as a result of a hearing held on 24 November 2011, before Tugendhat J in the High Court, they had been awarded damages against Mr Turrell in aggregate of GBP120,000 and were also granted injunctive relief to prevent further such actions by Mr Turrell. The claimants also made submissions in relation to their costs against Mr Turrell and anticipate obtaining an order for costs very shortly. The Company will update the market accordingly.

In making the judgment, Tugendhat J said "...Mr Turrell knew that what he was publishing was false, that he had adopted a campaign against Mr Cooper, and that he has aimed his publications at those whose good opinion is most important to Mr Cooper. The publications are clearly motivated by Mr Turrell's desire for revenge against Mr Cooper for Mr Cooper's actions in terminating Mr Turrell's employment."

Matt Cooper, Executive Chairman of Imaginatik, commented, "We are delighted with this news, the verdict from the Court vindicates the Company's position throughout and we look forward to continuing to build the business over the long term."

For further information please contact:

 
 Imaginatik plc                         Tel: 020 7917 2975 
 Matt Cooper, Executive Chairman / 
  Shawn Taylor, CFO 
 
 Northland Capital Partners Limited     Tel: 020 7796 8800 
 Gavin Burnell/Edward Hutton 
 
 Threadneedle Communications             Tel: 020 7653 9850 
 Caroline Evans-Jones / Hilary Millar

About Imaginatik

Imaginatik provides Innovation and Idea management solutions comprised of consultancy, software and program management to deliver innovation outcomes to companies such as The Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear, Paccar, Kellogg and Cargill. Few companies possess the internal capability to consistently generate fresh ideas, identify those worth pursuing and reliably transform them into real, value-enhancing assets. This is Imaginatik's area of expertise.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and a World Economic Forum Technology Pioneer with offices in Boston, MA, and London. In 2009, Imaginatik was named as one of the 500 fastest growing technology companies in the EMEA region by Deloitte. For more information visit www.imaginatik.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUUVARASAUAUA

Abal (LSE:ABAL)
Historical Stock Chart
From Jun 2024 to Jul 2024