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Forgent plc announced on 15 May 2026 that it has entered into a full and final settlement to resolve a legacy legal dispute. The company was a joint defendant with director David Palumbo and five others in a claim brought by SCV North Fork LLC, which was last announced on 12 March 2026. This amicable settlement, reached following mediation in April 2026 for case No. MCV087914, involved no admission of wrongdoing by any party.
| Date | 15 May 2026 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 4223E |
Litigation Settlement Resolution
Forgent plc (AIM: FORG), the technology-led energy transition company, is pleased to announce that it has entered into a full and final settlement in relation to the litigation, most recently announced on 12 March 2026 thereby successfully resolving a legacy legal dispute.
As previously announced, the Company was a joint defendant along with five others, including David Palumbo, a director of the Company, in a legacy claim brought by SCV North Fork LLC, the original tax-credit investor at the North Fork project.
Following mediation in San Francisco last month, the parties have now amicably settled their dispute to their mutual satisfaction without any admission of wrongdoing by any party. The case is SCV North Fork, LLC v. Stangl, et al., No. MCV087914 in the Superior Court for the County of Madera, State of California, United States of America.
James Parsons, CEO of Forgent plc commented:
"We are pleased to have reached a full and final resolution of this historical matter following mediation. The settlement draws a line under a longstanding issue and enables the Company to focus fully on executing its strategy."
For further information on Forgent plc, visit the Company's website www.forgentplc.com or contact:
ENQUIRIES
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FORGENT plc James Parsons |
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Strand Hanson - Nomad & Financial Adviser James Harris / Richard Johnson |
+44 20 7409 3494 |
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Global Investment Strategy UK Ltd - Broker Christopher Kipling Samantha Esqulant |
+44 20 7048 9045 |
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.