Cloudbreak Pharma Settles Legal Proceedings with Cedar Wealth

Reuters01-15
Cloudbreak Pharma Settles Legal Proceedings with Cedar Wealth

Cloudbreak Pharma Inc. has announced the settlement of legal proceedings related to a dispute with Cedar Wealth. The case involved an asset preservation order on Cloudbreak Guangzhou, a wholly owned subsidiary, which froze approximately RMB2.55 million in its bank account following arbitration initiated by Cedar Wealth. The company stated that the settlement is not expected to have a material adverse impact on its overall business, operations, or cash flow. Business and operations remain normal, and shareholders are advised to exercise caution when dealing in the company’s shares. Further updates will be provided as appropriate in accordance with regulatory requirements.

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