TORONTO–(BUSINESS WIRE)–$ALY.V #AI–Certain directors and officers of AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY), in their own capacity and on behalf of the Company, (the “Applicants”) filed a Notice of Application today in the Ontario Superior Court of Justice (Commercial List) seeking, among other things, an urgent order declaring that all acts and resolutions purported to have been taken or passed by directors Jith Veeravalli, Chaith Kondragunta, and Prakash Hariharan in meetings on April 5 and April 11, 2024 (“Disputed Meetings”), are null, void, of no legal force or effect and should be set aside.
In addition, as part of the court proceeding and further to the Derivative Action Letter described in the Company’s April 7 Press Release, Vincent Kadar (chair), Scott Gardner (independent director), Natalie Hirsch (interim president and chief executive officer), and Aaron Atin (legal counsel and corporate secretary) are seeking leave to commence a derivative action on behalf of the Company against Mr. Veeravalli, Mr. Kondragunta, and Mr. Hariharan, as well as relief under the oppression remedy.
For more information about the Disputed Meetings and related matters, please see the news releases disseminated by the Company and certain of the Company’s directors and officers on April 7, 2024, April 11, 2024, and April 12, 2024, each of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca. Please note that this press release has not been approved by all members of the board of directors of the Company (the “Board”).
About AnalytixInsight Inc.
AnalytixInsight is a data analytics and enterprise software solutions provider. AnalytixInsight develops and markets cloud-based platforms providing financial content, company analysis and stock research solutions to the financial services industry. AnalytixInsight holds a 49% interest in MarketWall S.R.L., a developer of fintech solutions for financial institutions in Italy.
Regulatory Statements
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contacts
Natalie Hirsch
Interim CEO
(647) 955-2933
[email protected]
