Australia's Next Science plunges on litigation filed by ex-employee

Next Science

08/01/2025 02:01

** Next Science  NXS.AX  slumps as much as 13% to record low
of A$0.1; set for weakest trading session since October 2024
    ** Medical tech firm says a former employee filed litigation
in the U.S., alleging breaches of fiduciary duties and
mismanagement against several employees
    ** Litigation makes several claims - that certain tech has
not been approved by U.S. FDA and that co did not take
sufficient measures to address safety concerns about the use of
its surgical solution in breast implant procedures
    ** Co says its products are safe, effective and FDA-approved
    ** Stock fell 66.2% in 2024

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((manasi.dasasundeep@thomsonreuters.com))