Biofrontera AG plans mediation to resolve (legal) disputes
Biofrontera AG (NASDAQ: BFRA) has reached a mediation agreement with Mr. Wilhelm K.T.
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Rhea-AI Summary
Biofrontera AG (NASDAQ: BFRA) has reached a mediation agreement with Mr. Wilhelm K.T. Zours and Deutsche Balaton AG regarding ongoing disputes. The mediation process aims to resolve various legal disputes affecting the company in Germany and the USA. Mr. Zours, a major stakeholder, will be involved in finding strategic solutions through a renowned mediator. The agreement's completion is anticipated today, potentially impacting shareholder relations and corporate governance.
Positive
- Mediation agreement reached, potentially reducing ongoing legal disputes.
- Involvement of a renowned mediator may lead to strategic resolutions.
Negative
- Ongoing legal disputes in Germany and the USA may continue to pose risks.
- Disagreements on personnel and strategic corporate matters still unresolved.
Details
News Market Reaction – BFRA
The recorded move for BFRA in the trading session of this news was +18.97%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Leverkusen, Germany, Sept. 11, 2020 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company” or the “Biofrontera-Group”), an international biopharmaceutical company, today has reached a mutual agreement with Mr. Wilhelm K.T. Zours and Deutsche Balaton AG on the key elements of a mediation agreement. The completion of the mediation agreement is expected today.
Within the framework of the mediation process, which is to commence shortly, an experienced and renowned mediator will be called in to find solutions for the settlement of disputes as well as disagreements on personnel and strategic corporate matters.
Mr. Zours is chairman of the supervisory board and majority shareholder of Deutsche Balaton AG and is as such an indirect major shareholder of the Company. Between the Company on one side and Deutsche Balaton AG together with other companies in which Mr. Zours holds a majority interest on the other side, various legal disputes are pending in Germany and one legal dispute in the USA.
Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen
ISIN: DE0006046113
WKN: 604611
Biofrontera AG
Tel.: +49 (0214) 87 63 2 0, Fax.: +49 (0214) 87 63 290
E-mail: ir@biofrontera.com
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