Judgement by Swedish city court awards damages and costs to Columbus in the range of SEK 43-45m
26 January 2024 - 1:45AM
UK Regulatory
Judgement by Swedish city court awards damages and costs to
Columbus in the range of SEK 43-45m
Company announcement no. 2/2024
Columbus has been engaged in a court case against the Swedish M3
consultancy company ‘M3CS AB’ and its founders in a dispute about
disloyal behavior, breach of IP and other unlawful acts.
The Swedish city court has now rendered judgement in the matter
and ruled in favour of Columbus, establishing that the company M3CS
and its founders acted unlawfully and are liable for paying damages
and costs to Columbus. The amount to be paid, including interests,
is expected to be in the range of SEK 43-45m.
Columbus has been focusing on serving its customers. At the same
time Columbus has been putting its trust in the Swedish court
system and is therefore also very pleased and satisfied to now see
justice being served. The amount of damages awarded is the highest
amount ever awarded in similar cases in Swedish court history,
something that underlines the gravity of the actions committed by
the company M3CS and its founders. The court has made it clear that
it does not look lenient at such unlawful acts taking place in the
Swedish market.
The judgement may be appealed until 14 February 2024. After this
date, Columbus may return with further information to the extent
relevant.
Ib
Kunøe Søren
Krogh Knudsen
Chairman of the
Board CEO
& President
For further information, please contact:
CEO & President, Søren Krogh Knudsen, +45 70 20 50 00 |
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