Business
Psyence BioMed Announces Settlement of Shareholder Litigation
NEW YORK, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) ("Psyence BioMed" or the "Company") today announced that it has entered into a settlement agreement to resolve a direct shareholder claim made by KAOS Capital Ltd ("KAOS"). The claim, originally made on January 14, 2026, and amplified on January 26, 2026, alleged, among other things, improper and oppressive actions on the part of the Company against KAOS, resulting in KAOS suffering alleged damages (the "KAOS Alleg
About this update from Psyence Biomedical Ltd.
[{"type":"image","alt":"Psyence Biomedical Ltd.","displaySize":"","headline":null,"caption":"Psyence Biomedical Ltd.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":76,"url":"https://media.zenfs.com/en/globenewswire.com/67bd17e4cdd6e19b07d34e625f8a453d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/4XQTy8kOrKa7B9604uln6w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEwNjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/67bd17e4cdd6e19b07d34e625f8a453d","width":300,"height":76}},"lazy":false},{"type":"text","content":"NEW YORK, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) ("Psyence BioMed" or the "Company") today announced that it has entered into a settlement agreement to resolve a direct shareholder claim made by KAOS Capital Ltd ("KAOS"). The claim, originally made on January 14, 2026, and amplified on January 26, 2026, alleged, among other things, improper and oppressive actions on the part of the Company against KAOS, resulting in KAOS suffering alleged damages (the "KAOS Allegations"). The Company, its board of directors ("Board") and officers have denied the allegations and believe they are unsubstantiated and meritless.","length":698,"tagName":"p"},{"type":"text","content":"Application HearingOn January 16, 2026, KAOS issued a notice of application (the "Application") in the Ontario Superior Court (the "Court") with respect to the KAOS Allegations and sought, among other remedies, to adjourn the shareholders' meeting of the Company originally scheduled for January 22, 2026. On January 21, 2026, the Court dismissed the Application and ordered KAOS to pay the Company's costs fixed in the amount of CDN $75,000 (the "Costs Award").","length":501,"tagName":"p"},{"type":"text","content":"Terms of the SettlementUnder the terms of the settlement, the Company will pay an aggregate amount of US $1,500,000 to KAOS and the Company has agreed to release KAOS from any obligation to pay the Costs Award. Furthermore, KAOS agrees that it will sell, or cause to be sold, all the common shares held by it in the Company to a third party designated by the Company at a price of US $5 per share. The settlement also includes a full retraction of the unproven KAOS Allegations, a full mutual release of all claims between t...