My read was PGX asked for $86m. Wartsila said there was no basis, as they didn’t provide any documents (read: couldn’t access hyperlink on the date of email). The court has agreed with Wartsila that there is no basis (read: hyperlink does mean the Wartsila has the documents).
This was not about the merits of the claim, but about whether Wartsila has to assess the 28 February 2020 claim. They don’t. Wartsila can now completely ignore that claim on a legal technicality.
It, however, does not mean PGX can’t lodge a new claim that Wartsila has to actually look at and assess.
PGX Price at posting:
24.0¢ Sentiment: None Disclosure: Held
