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In the judgment delivered on December 8, 2022, the Paris Commercial Court held that Second Sight Medical Products had breached its contractual obligations under the memorandum of understanding (MoU) entered into between the two companies on January 5, 2021, by requesting that an investment banking firm carry out a transaction in competition with the transaction contemplated under the MoU. As a result, the Paris Commercial Court ordered the termination of the MoU on the grounds of Second Sight Medical Products’ sole breach

Pixium Vision welcomes judgment by Paris Commercial Court against Second Sight Medical Products

Pixium Vision SA (Euronext Growth Paris - FR0011950641; Mnemo: ALPIX), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independent lives, today announces that the company welcomes the judgment rendered by the Paris Commercial Court in the case brought by Pixium Vision against Second Sight Medical Products, Inc. (renamed Vivani Medical, Inc.) following the latter's withdrawal from the proposed business combination between the two companies1 on April 2, 2021

By Pixium Vision
Published - Dec 28, 2022, 01:03 AM ET
Last Updated - Apr 29, 2024, 05:03 AM EDT

Pixium Vision welcomes judgment by Paris Commercial Court against Second Sight Medical Products

  • Court finds Second Sight Medical Products breached 2021 contractual obligations to Pixium Vision
  • Court orders Second Sight Medical Products to pay Pixium Vision an additional €1.58 million in costs and damages
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