Microbot Medical Announced Settlement and Release Agreement, Effectively Resolving all Associated Legal Matters

Microbot Medical Inc -0.98%

Microbot Medical Inc

MBOT

1.01

-0.98%

Microbot Medical Inc. (NASDAQ:MBOT), developer of the innovative LIBERTY® Endovascular Robotic Surgical System, today announced it has signed a Settlement Agreement and Release with Empery Asset Master Ltd., Empery Tax Efficient, LP, Empery Tax Efficient II, LP, Hudson Bay Master Fund Ltd. that resolves all claims asserted against the Company by these entities in a lawsuit filed in 2020 relating to a June 2017 securities purchase agreement.
 

All of the cash payable to the plaintiffs in the settlement, representing over half of the settlement amount, will be covered by Microbot's insurance carrier. This arrangement ensures that the settlement will not impact the company's cash position or its balance sheet.

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