Cision, which said earlier this month it has been threatened by a damages claim from a major U.S. publisher, has canceled plans for a dividend, new incentive plan for top execs, and share buybacks.
The Sweden-based PR software company said March 18 it is nixing three proposals ahead of its March 26 annual meeting because of “continuing uncertainty” surrounding the litigation threat.
That includes a proposed SEK 30M ($4.5M) dividend, a plan to implement a long-term incentive plan for no more than 13 executives, and a proposal to authorize purchase of its own shares.
Cision said it currently holds 69,442 of the company’s 14.9M shares and its holdings cannot exceed one-tenth of the total.
Cision said March 8 that it had been threatened with a copyright infringement action by a U.S. publisher it has declined to name.