A major U.S. publisher has threatened Cision with a damages claim based on alleged infringement of rights, the PR software and monitoring provider said today.
“It is at present not possible to quantify the likely potential liability that Cision could incur as a result of this claim,” said a statement from CEO Hans Gieskes and CFO Tosh Bruce-Morgan. “However, it cannot be excluded that the impact on Cision’s full-year earnings could be significant.”
That revelation sent the company’s Sweden-traded shares sinking by more than 25 percent.
The company said it intends to work toward an “amicable solution or otherwise invoke such defense as it sees fit.”