Atomos Limited settles legal disputes with Former CEO Estelle McGechie

Atomos Limited (ASX: AMS) has successfully settled its legal disputes with former CEO Estelle McGechie in both the United States and Australia. The legal issues began in August 2022, when Atomos disclosed an employment-related claim against the company and subsequently filed a counterclaim in the Supreme Court of Victoria concerning a breach of loan agreement by McGechie. Following mediation, both parties reached a Confidential Settlement Agreement, wherein neither admits liability and mutual releases for all claims are granted. While the exact settlement amount remains undisclosed, Atomos has indicated that its provisions recorded in the FY24 Appendix 4E Preliminary Final Report are adequate to cover the settlement and any future legal expenses. The company confirms it has sufficient capital to fulfill its settlement obligations as they arise.

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