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Novacyt caves on Government claim - pays out £5 million

By Tom Winnifrith | Tuesday 11 June 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

We will fight them on the beaches. We will fight them on the Landing Fields. We will fight them on the Streets. We will fight them in the Courts. We will never be defeated. So said Novacyt (NCYT) after the Government sued it for £134 million for supplying dodgy covid tests. Today, after racking up millions of quid in legal fees, Novacyt agreed to stop fighting and to hand over £5 million before the Court case started later this week.
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