Chrysalis, Revolution settle dispute over investment loss
By Frank Prenesti
Date: Thursday 02 Jan 2025
(Sharecast News) - Chrysalis Investments on Thursday said it had reached a settlement with Revolution Beauty over its claim against the troubled AIM-listed cosmetics retailer.
Under the terms of the settlement, Revolution Beauty has agreed to pay the former investor "a non-material sum, being less than 1% of the company's market capitalisation" on Jan 2. All other details of the settlement remain confidential
Chrysalis took a £45m stake in Revolution, but offloaded it in 2022 for just £5.7m. It then made several allegations against Revolution, accusing it of "'deceit, negligent misstatement and/or misrepresentation' misstatements and material omissions" at the time of the purchase. Revolution disputed the accusations.
It then stepped up its case, threatening a legal claim to recover £45.2m.
Revolution in a separate statement said no case had ever been filed and that Chrysalis would not proceed with any claims after the settlement.
Reporting by Frank Prenesti for Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN