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Tavistock Investments PLC - Ascot, England-based financial advice and investment management firm - Responds to comments from Titan Wealth Services Ltd and Titan Asset Management Ltd regarding the outcome of a UK court hearing on Thursday last week. Tavistock previously announced on Tuesday that the court ruled in its favour ‘on all matters’, allowing it to expand counterclaims relating to alleged misuse of its model portfolio service and rejecting Titan’s attempts to strike out parts of the case. Court also ordered Titan to pay an interim amount of £250,000 toward Tavistock’s legal costs. Tavistock says Titan responded, saying: ‘We respect the court’s decision that, procedurally, the defendants have satisfied the low threshold required to introduce into their pleading the amendments Titan has been contesting. Titan nevertheless maintains that the defendants’ counterclaims are factually and legally flawed and are likely to fail at the trial, which remains listed to take place in the summer of 2027.’ Responding to Titan’s comments, a Tavistock spokesperson said: ‘If the threshold was low to introduce our pleadings which are factually and legally flawed and likely to fail at trial, why would Titan spend hundreds of thousands of pounds trying to prevent them being included?’ Current stock price: 4.16 pence, down 2.2% on Wednesday in London 12-month change: down 2.2% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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