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Jury finds Akoustis liable for $38.6M -7
08:13 20-May-24
Here's the 8-K filing from Akoustis. It confirms that the company will try to appeal, and that:
in the absence of the receipt of additional financing, we will be required to curtail or cease operations and/or seek protection under applicable bankruptcy laws.On 5/18/24 00:42, Esekla wrote:
The headline published at 10:30 Friday evening says it all. Though appeal from district court should technically be possible, as tipped here, I expect Akoustis will have to declare bankruptcy or cut some other deal with Qorvo leaving nothing for AKTS shareholders. Those had declined to 36 cents in the last couple hours of trading, and though it wouldn't be too unusual for them to rise next week, that would still not be a positive medium to long term indication. Whether it's bankruptcy or settlement, I think matters will wrap up much more quickly than Ebix has, and am likely to move the two sections to public side of the website together in the coming months, still quite possibly along with other changes to this service.