BF Labs announced on the 27th that the withdrawal of lawsuits related to the management rights dispute has laid the groundwork for the normalization of management.
On the previous day, BF Labs disclosed that it had withdrawn all lawsuits filed by minority shareholders in October last year, including the lawsuit to confirm the invalidity of resolutions related to the extraordinary general meeting and the lawsuit for permission to convene the general meeting.
This withdrawal reflects the mutual management will between BF Labs and the minority shareholders, raising expectations for the company's normalization. In particular, at the extraordinary general meeting scheduled for April 4, a proposal by minority shareholders to appoint new directors will be discussed.
BF Labs is currently under a trading suspension due to a disclaimer of audit opinion. The company is focusing on discovering new business areas, and the resolution of conflicts with minority shareholders is expected to have a positive impact on future management normalization.
A BF Labs official stated, “Going forward, minority shareholders and management will unite with one heart and one mind to revive the company,” adding, “We will make every effort to ensure that the resumption of trading, our top priority, can be achieved.”
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