Todos Med Ltd (TOMDF)

[freegriff]

Two active court cases against Provista:
1:23-cv-00511-AT Debejare et al v. Provista Diagnostics, Inc. et al
where a former sales rep, former account support rep, former admin asst, former lab tech, former VP of sales and marketing, former lead assesioner, former specimen processor who all quit after not being paid between october 14th and november 23rd 2022.

This is a moronic lawsuit and these folks have hired a shit firm. Folks who aren't cut out for entrepreneurial ventures - sometimes you gotta wait to get paid. All claim they were working overtime, so business must have been good. Plaintiffs will all pay way more in legal fees than they will ever collect and the financial hit to the company even if they make it to a trial or settlement down the line. Looks like our expenses will have lessened by a bit. No impact to company.

1:22-cv-05134-MLB Jones v. Provista Diagnostics, Inc. et al
Same story as the above case, same attorney, but a single lab tech as the plaintiff. Importantly this lawsuit notes that all employees were not paid during this period of time, and that Provista starting paying employees again after this group quit. This is consistent with business being tight, and having to wait for payment of services as the holiday surge of testing came in.

So all in all, I'm not worried.