FingerMotion, Inc. (NASDAQ:FNGR) (the "Company" or "FingerMotion"), a mobile services and data company, announced that it filed a federal lawsuit in the United States District Court for the Southern District of New York, FingerMotion, Inc., v. Capybara Research et. al., Case No.1:23-cv-09212-JPC-KHP, against Defendant Capybara Research ("Capybara"), alleging claims for securities fraud, tortious interference with prospective business expectancy and defamation in connection with a defamatory article maliciously published to its website and X account in a premeditated attempt to decrease the Company's share price and financially benefit from its previously disclosed short position.
On January 16, 2024, the Company amended its complaint to add claims against Accretive Capital LLC d/b/a Benzinga ("Benzinga") for tortious interference with prospective business expectancy and defamation in connection with the republishing of Capybara's defamatory article. As of March 21, 2024, FingerMotion has entered into a settlement agreement with Benzinga, facilitating the removal of references to Capybara's article from Benzinga's website and dismissing Benzinga from the lawsuit.
"We are gratified to reach this milestone in our legal action against Capybara Research and coming to a settlement with Benzinga," stated FingerMotion CEO Martin Shen. "This is however, only the first step in our drive to fully redress the damage caused by this false and malicious article. We remain committed to pursuing our federal lawsuit until a final judgment has been reached."