Asia-Pacific online gaming and media group PCG Entertainment Plc (LON:PCGE) has settled with its former boss, bringing to an end a ten-month legal battle.
Nick Bryant was axed last March after the service contract with Electric Warrior Ltd, which provided Bryant’s services as CEO, was terminated.
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Bryant and Electric Warrior brought an employment tribunal against the company as well as chairman Richard Poulden and fellow director Michael Mainelli personally.
Those claims have now been withdrawn after PCGE agreed to pay £286,350 to the two parties.
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The AIM-quoted firm said the settlement was “in the best interests of shareholders” given that it may have taken until mid-2019 to get a ruling had the matter gone through the courts.
“This would prevent further funding of the business and prevent the creation of value for shareholders.”