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Investing.com -- Vimian Group AB shares rose 2.5% after a U.S. court ruled the company will receive $40.2 million in indemnification from the largest seller of VOI, a company Vimian acquired in 2020.
The court decision marks a significant development in Vimian’s two-year claim retrieval process following a litigation payment the company made to J&J over a VOI-related patent dispute.
The $40.2 million indemnification does not include the largest seller’s share of the contingent closing note, estimated at approximately $10 million.
When combined with settlement agreements previously reached with other sellers, Vimian could be entitled to total compensation of around $78 million. This amount exceeds the original $70 million payment Vimian made to J&J in April 2023.
The court decision removes substantial uncertainty surrounding Vimian’s claim retrieval process against the largest seller of VOI, who holds a 55.6% stake in the company.
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