BrainsWay (BWAY)

[midastouch017]

BrainsWay Resolves Neuronetics Litigation

https://finance.yahoo.com/news/brainsway-resolves-neuronetics-litigation-130000356.html

BURLINGTON, Mass. and JERUSALEM, Jan. 10, 2023 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a world leader in advanced and non-invasive treatment for brain disorders, today reported that it has settled litigation filed by Neuronetics, Inc. (“Neuronetics”) in the District of Delaware.

BrainsWay had filed a motion to dismiss the case, and, while that motion was pending, agreed to settle the case on mutually agreeable terms and without any admission of liability or wrongdoing, including the release of certain potential counterclaims, to avoid the time, expense and uncertainty of litigation. “We are pleased to have resolved this litigation so that we can focus our full attention on our technology and bringing our Deep TMS™ therapy to patients,” said Christopher von Jako, P.h.D., President and CEO of BrainsWay.

Except as set forth in this press release, and a corresponding announcement from Neuronetics, the parties have agreed to keep the terms of the settlement agreement confidential.