Sigma Global Fund and Bradbury Private Investments Reject Gorilla Technology’s Retaliatory, Meritless Lawsuit, Vow to Defend Shareholder Rights

Sigma Global Fund and Bradbury Private Investments have strongly refuted a lawsuit filed by Gorilla Technology, labeling it as “frivolous and profoundly misleading.” The lawsuit alleges stock manipulation, but Sigma and Bradbury contend it’s a desperate attempt by Gorilla’s management to distract from failures in corporate governance and retaliate against a prior lawsuit concerning Contingent Value Rights (CVRs). They emphasize their long-term commitment to Gorilla stakeholders and their efforts to prevent a perpetually entrenched board.

The funds argue that their actions to propose changes to the Board of Directors are a legitimate exercise of shareholder rights, particularly given Gorilla’s failure to hold board elections since its DeSPAC transaction. They dismiss Gorilla’s claims of market manipulation as baseless and criticize the company for attempting to withhold escrow shares from CVR holders.

A spokesperson for Sigma and Bradbury stated the lawsuit is a “political maneuver” and vowed to vigorously defend against the claims, seeking to protect shareholder rights and steer Gorilla Technology towards sustainable growth. They urge the current board to end the litigation and focus on improving the company’s performance.

(Source：Investing Us)