Fu Yu says legal advice shows no basis to pursue ex-staff, supports settlement payouts

Reuters2026/08/07 09:30

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Fu Yu detailed its rationale for settling with six individuals named in earlier FYSCS-related investigations, despite previously issuing demand letters on April 1, 2025.
The board cited a September 2025 written opinion from Nine Yards concluding there was no legal basis to pursue claims, with further spending unlikely to benefit shareholders.
It also flagged litigation exposure from April 2025 public statements tied to unproven allegations, citing defamatory risk and a “real risk” of claims if left unresolved.
The board said it received no formal or informal disputes from the six parties, though one party made informal contact; settlements were drafted to cover potential counterclaims.
Separately, it clarified Feb. 4, 2026 replacement announcements added disclosure of Victor Lim’s interest in 17,400 shares held via a custodian account.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fu Yu Corporation Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: H1T86FHIAOG2RLKO) on August 07, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Fu Yu says legal advice shows no basis to pursue ex-staff, supports settlement payouts

You may also like

Crypto prices