The Motley Fool

Mobile Embrace Ltd share price jumps 14% on litigation settlement

The Mobile Embrace Ltd (ASX: MBE) share price has surged higher in afternoon trade following a positive announcement out of the mobile marketing and carrier billing m-commerce company.

In late trade its shares are up 14% to 8.8 cents.

What happened?

This afternoon the company advised that it has settled its ongoing litigation with GBD Ventures.

GBD Ventures was suing Mobile Embrace for approximately $3.5 million for losses alleged to have been incurred under a digital video advertising inventory supply agreement.

According to the release, judgement has gone in favour of Mobile Embrace. The company’s cross-claim has, however, been dismissed.

As a result, under the terms of the settlement, all parties will be responsible for payment of their own legal costs.

Despite today’s gain, Mobile Embrace’s shares are still down a disappointing 45% year-to-date.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.