Biofrontera AG (NASDAQ: BFRA) has announced a mutual agreement with Mr. Wilhelm K.T. Zours and Deutsche Balaton AG to discuss the key elements of the mediation agreement. Biofrontera AG planned to resolve legal disputes through the mediation agreement. Mr. Zours is chairman of the supervisory board and majority shareholder of Deutsche Balaton AG. He is the major shareholder of the company.
There are various legal disputes unresolved between the Company on one side and Deutsche Balaton AG together with other companies in which Mr. Zours holds a majority interest on the other side. One of the legal dispute is also pending in the USA.
As per the mediation process, an experienced and renowned mediator will be involved in the process to find the solutions for the settlement of disputes. There were various disagreements on personnel and strategic corporate matters. The mediation process is expected to start shortly.
Shares of Biofrontera AG has traded up 18.97% as it gained +1.40 during the trading of Friday. It has a closing price of $8.78. In the past 52-weeks of trading, Biofrontera AG stock fluctuated between the low of $5.26 and a high of $54.94. It has moved up 66.78% from its 52-weeks low and moved down -84.02% from its 52-weeks high. It had a trading volume of 31.92 million as compared to the average volume of 879.03K. Biofrontera market capitalization has remained high, hitting $196.89 million at the time of writing.
Biofrontera (BFRA) is scheduled to participate in two upcoming conferences. One is the 2020 Lake Street Capital Markets Best Ideas Growth (BIG4) Conference which is anticipated to take place on September 17, 2020. This is the 4th Best Ideas Growth investor conference which will show the dynamic growth companies. Almost 50 companies executives will meet with institutional investors at this conference.
The second one is the Baader Investment Conference 2020 which is expected to take place on September 25, 2020. Around 230 companies will participate in this conference. The conference will be held as a hybrid event with on-site as well as virtual presentations amid the global pandemic.