DUG Technology Settles US Legal Dispute for $1.5 Million Over Energy Management Services
β’ DUG Technology Ltd announced settlement of legal proceedings in the United States District Court for the Southern District of Texas involving its subsidiary DownUnder GeoSolutions (America) LLC, reducing the court judgment from approximately $2.1 million to $1.5 million. β’ The dispute centered on a contested supplier invoice under an energy management services agreement, with both parties agreeing to a settlement and release agreement that resolves all claims including DUG US's counterclaim. β’ The settlement stipulates that neither party will pursue further legal action and includes a confidentiality provision regarding remaining details, with the supplier required to file a release of judgment upon payment.
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