Resolution of Complaint for Trademark Infringement

System1 Group PLC

30 June 2023

 

30 June 2023

System1 Group PLC (AIM: SYS1)

 ("the Company", or "the Group")

Resolution of Complaint for Trademark Infringement

System1 Group plc today issues an update on the complaint for trademark infringement against System1 LLC as previously announced on 9 November 2021 and updated on 12 July 2022 and 25 October 2022.

System1 Research Limited ("System1") and System1 OpCo, LLC (("LLC") (together, "the parties") have reached a mutually agreeable resolution of the lawsuit previously filed by System1 in the Southern District of New York.  The parties have signed a global agreement ("agreement") which governs the co-existence of their respective use of the "System1" mark in connection with their operations. As part of this agreement, System1 is receiving a fixed undisclosed payment payable in instalments. The parties have agreed to keep further detail of their agreement confidential.

Further information on the Company can be found at www.system1group.com.

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

For further information, please contact:

System1 Group PLC	Tel: [phone]
James Gregory, Chief Executive Officer
Chris Willford, Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser & Broker)	Tel: [phone]
Simon Bridges / Andrew Potts / Harry Rees

 

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