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home / news releases / EYES - Second Sight Medical rises defying legal battle; regains NASDAQ compliance

EYES - Second Sight Medical rises defying legal battle; regains NASDAQ compliance

Second Sight Medical Products Inc.
Second Sight Medical ([[EYES]] +23.0%) is soaring in morning hours despite a lawsuit filed against the company in France.In a regulatory filing, the company disclosed that on June 01, it received a summons from Pixium Vision in connection with a lawsuit filed in the Commercial Court of Paris seeking damages due to an alleged violation of an agreement between the two parties.The France-based company seeks damages to the tune of $6.3M (€5.2M) in addition to court and other costs.However, Second Sight insists that it paid $1M in damages to Pixium in April as per the Memorandum of Understanding linked to a proposed business combination between the two parties.“The company believes that it owes nothing further to Pixium under the MOU, and it intends vigorously to defend against these claims,” Second Sight said in the 8-K filing.Meanwhile, the company said it has regained compliance with the Nasdaq listing rules on the annual meeting requirement.On

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Second Sight Medical rises defying legal battle; regains NASDAQ compliance
Stock Information
Company Name: Second Sight Medical Products Inc.
Stock Symbol: EYES
Market: NASDAQ
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