Business
Gorilla Technology Files Litigation Against Sigma and Bradbury to Protect the Company from Stock Manipulation
Lawsuit alleges Sigma and Bradbury engaged in scheme to artificially depress the stock, acquire new shares at nearly no cost and harm all shareholdersLondon, United Kingdom--(Newsfile Corp. - December 8, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") filed a lawsuit on December 8, 2025, against Sigma Global Fund SPC, Sigma Global Fund SPC — Asian High Yield Fixed Income SP, and Sigma Global Fund SPC — Chi Acquisition Corporation (collectively, "Sigma") and...
About this update from Gorilla Technology Group Inc.
[{"type":"text","content":"Lawsuit alleges Sigma and Bradbury engaged in scheme to artificially depress the stock, acquire new shares at nearly no cost and harm all shareholders","length":150,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"London, United Kingdom--(Newsfile Corp. - December 8, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") filed a lawsuit on December 8, 2025, against Sigma Global Fund SPC, Sigma Global Fund SPC — Asian High Yield Fixed Income SP, and Sigma Global Fund SPC — Chi Acquisition Corporation (collectively, "Sigma") and Bradbury Private Investments XVI Inc. ("Bradbury"), alleging they obtained substantial shares and rights via Contingent Value Rights (CVRs), then coordinated to manipulate Gorilla's stock price downward and trigger a right to acquire more shares at no additional cost. In doing so, Sigma and Bradbury have damaged the Company, violated their lawful obligations and harmed all shareholders.","length":779,"tagName":"p"},{"type":"text","content":""This lawsuit is about more than Gorilla; it is about drawing a line in the sand. We will not allow a few bad actors to manipulate our stock and erode shareholder value through deception and market abuse. Every shareholder deserves better. We are fighting not just for justice, but for accountability," said Jay Chandan, Chairman & CEO. "We are committed to standing up for all our investors, and filing this litigation is a necessary step to protect our Company, and the investment opportunity it represents, from unlawful plots designed to destroy value for the many to enrich the pockets of a few bad actors."","length":636,"tagName":"p"},{"type":"text","content":"The Company believes these events were deliberately engineered to exploit the CVRs and extract unearned value. In 2022, Gorilla entered into a SPAC merger backed by investors Sigma and Bradbury, who received preferential rights, including CVRs designed to compensate them if Gorilla's stock fell below certain levels. In December of that year, the stock lost over half of its value for no apparent reason. An economic analysis firm found there was no publicly available information to explain the cause of the decline, which triggered distributions of additional shares for Sigma and...