Twist Biosciences (TWST +9.9%) is up again today. Shares have rallied 40% since touching $21.01 on January 27.
The move is reportedly related to a “favorable” legal development, almost certainly pertaining to a lawsuit brought by Agilent (A -0.4%)
who sued the company and CEO Dr. Emily Leproust in February 2016 over
alleged breach of contract (use of confidential information and alleged
breach on non-solicitation), alleged breach of duty of loyalty and
alleged misappropriation of trade secrets (10-K, page 53). The defendants countersued Agilent in January 2019.
Update: According to Cowen’s Doug
Schenkel, a hearing set for tomorrow has been canceled with the court
vacating the scheduled trial, signaling that a settlement may be close.
https://seekingalpha.com/news/3539352-twist-bio-adds-to-rally-up-10-on-favorable-legal-development
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