$CETX “We are pleased to be putting the uncertai
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Posted On: 10/17/2018 10:42:38 AM
$CETX “We are pleased to be putting the uncertainty around these lawsuits behind us, which we believe is beneficial to the Company and its shareholders. After carefully evaluating the merits of trying the case versus settling it, we chose the latter as any continued litigation of the Actions would be protracted, burdensome, and expensive for the Company. This settlement concludes this matter expeditiously with no additional costs to the Company and further avoids interference on operations,” said Saagar Govil, Cemtrex’s Chief Executive Officer. “With this action behind us, we can stay focused on our business and more specifically, the SmartDesk, which we launched earlier this year through our own in-house research & development efforts and is gaining tremendous traction and market acceptance from major corporations, academic institutions, and government organizations.”
The settlements are subject to several conditions, including formal settlement documentation and court approval.
The settlements are subject to several conditions, including formal settlement documentation and court approval.
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