---
title: "ESGL Highlights Jury Win for De Tomaso as Merger Progresses"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/275524473.md"
description: "ESGL Holdings announced a jury verdict favoring De Tomaso Automobili, clearing it of fraud allegations and allowing ESGL to proceed with its merger plans, pending Nasdaq approval. The latest analyst rating for ESGL stock is a Hold with a $3.50 price target. Spark's AI Analyst rates ESGL as Neutral, citing financial challenges despite some improvements. ESGL focuses on reducing carbon emissions in Asia and is pursuing a merger with De Tomaso."
datetime: "2026-02-10T22:50:16.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/275524473.md)
  - [en](https://longbridge.com/en/news/275524473.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/275524473.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/275524473.md) | [繁體中文](https://longbridge.com/zh-HK/news/275524473.md)


# ESGL Highlights Jury Win for De Tomaso as Merger Progresses

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The latest announcement is out from ESGL Holdings ( (ESGL) ).

On February 10, 2026, ESGL Holdings reported that a U.S. federal jury in the Southern District of New York delivered a unanimous verdict in favor of De Tomaso Automobili Holdings Limited and its owner, Norman Choi, rejecting claims brought by former CEO Ryan Berris. The jury found Berris held no equity in De Tomaso and no contractual right to the compensation he alleged, including a bespoke limited-edition supercar.

Jurors also sided with De Tomaso on its counterclaims for breach of fiduciary duty and awarded damages, effectively ending the previously disclosed litigation and clearing De Tomaso and Choi of allegations of fraud or dishonesty. With this legal overhang resolved, ESGL said it continues to work toward closing its proposed business combination with De Tomaso, which still depends on Nasdaq approval and customary closing conditions.

The most recent analyst rating on (ESGL) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on ESGL Holdings stock, see the ESGL Stock Forecast page.

**Spark’s Take on ESGL Stock**

According to Spark, TipRanks’ AI Analyst, ESGL is a Neutral.

The overall stock score of 52 reflects significant financial challenges, including negative profitability and cash flow issues, despite some improvements in gross profit margins and leverage. Technical analysis shows positive momentum, but valuation remains a concern due to the negative P/E ratio and lack of dividend yield.

To see Spark’s full report on ESGL stock, click here.

**More about ESGL Holdings**

ESGL Holdings Limited is a Singapore-based circular economy innovator focused on reducing carbon emissions for industrial clients across Asia. The company operates through its Singapore-incorporated operating entity, Environmental Solutions (Asia) Pte. Ltd., and is pursuing a strategic business combination with luxury automaker De Tomaso Automobili Holdings Limited.

**Average Trading Volume:** 8,312

**Technical Sentiment Signal:** Buy

**Current Market Cap:** $141.8M

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