Cyclacel Pharmaceuticals, Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
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Jun 30, 2025 · Filed Aug 14, 2025
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Legal Proceedings
Item 1. Legal Proceedings
On August 6, 2025, David Lazar, a minority shareholder, filed a complaint in the United States District Court Southern District of New York against Cyclacel Pharmaceuticals, Inc. and Datuk Dr. Doris Wong Sing Ee, the Company’s Chief Executive Officer and majority shareholder. The complaint alleges three causes of action: (1) breach of fiduciary duty (against Company and Datuk Dr. Wong); (2) minority shareholder oppression (against Datuk Dr. Wong); and (3) breach of contract (against Datuk Dr. Wong). The complaint requests damages in the amount of $11,882,683.45 for the first and second causes of action, $629,501.36 for the third cause of action, pre-judgment and post-judgment interest, and attorneys’ fees. Company believes the claims to be meritless and intends to vigorously defend the lawsuit.
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