Brief: NCS Multistage Holdings Inc says Co's Unit Was Defendant In Lawsuit In Texas

NCS Multistage Holdings

18/05/2023 11:16

May 18 (Reuters) - NCS Multistage Holdings Inc  NCSM.O :
    * NCS MULTISTAGE HOLDINGS INC - CO'S UNIT WAS DEFENDANT IN
LAWSUIT
IN STATE DISTRICT COURT IN TEXAS, FOR WHICH TRIAL BEGAN DURING
LAST WEEK OF APRIL
    * NCS MULTISTAGE HOLDINGS INC -  ON MAY 2, JURY RETURNED A
VERDICT
AGAINST US, WE ACCRUED A LIABILITY OF $17.5 MLNAS OF MARCH 31,
2023
    * NCS MULTISTAGE HOLDINGS INC - ON MAY 15, JUDGMENT WAS
RENDERED
WHICH AWARDED PLAINTIFFS DAMAGES OF $42.5 MILLION
    * NCS MULTISTAGE HOLDINGS INC - INTENDS TO APPEAL JUDGMENT,
BELIEVES IT HAS STRONG ARGUMENTS THAT MAY LEAD TO REVERSAL OF
SOME OR ALL OF AWARDED DAMAGES

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