Tavistock Investments PLC (AIM:TAVI) shares moved some 24% higher on Tuesday, after reporting it had won a court hearing relating to its ongoing litigation with Titan Wealth Services and Titan Asset Management.
The dispute relates to counterclaims made by Tavistock concerning Titan’s model portfolio service. In June, Tavistock applied to expand its counterclaims to include alleged misuse of confidential information, trade secrets and copyright infringement, and to add Titan Wealth Holdings as a party.
The court has ruled in Tavistock’s favour.
Titan was also ordered on 11 December to pay Tavistock an interim amount of £250,000 on account of costs within 28 days of the hearing.
"Tavistock will continue to pursue its claims against Titan and to vigorously defend the claims brought against it," the investment company said in a statement.
Tavistock shares were up 24% changing hands at 4.4p.