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Bestway Marine & Energy Hit with Lawsuit over Acquisition-Linked Restrictions
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(MT Newswires) -- Bestway Marine & Energy Technology (SHE:300008) was slapped with a lawsuit by a counterparty from a 2015 acquisition, according to a Wednesday filing with the Shenzhen bourse. The plaintiff seeks to lift sales restrictions on 68.6 million of the company's shares and claims 113.8 million yuan in damages for the alleged delayed unlocking of these shares since 2019. The dispute originates from profit commitment clauses tied to the acquisition of Jiangsu Jinhaiyang Technology. Shares of the ship and ocean engineering services provider were down 1% Wednesday.
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