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XTL Biopharmaceuticals Ltd. was served with a shareholder motion on August 3, 2026, seeking court authorization to…
XTLBXtl Biopharmaceuticals Ltd
XTL Biopharmaceuticals Ltd. was served with a shareholder motion on August 3, 2026, seeking court authorization to file a derivative claim against the controlling shareholder and certain current and former directors and officers. The Motion alleges breaches of fiduciary duties regarding the 2024 acquisition of The Social Proxy Ltd., including failure to fund the subsidiary as committed, conflicts of interest, delayed disclosure of lost control, and financial irregularities. The subsidiary is in liquidation following a February 22, 2026 court order. The petitioner seeks approximately NIS 100 million in compensation for destroyed value, disgorgement of benefits, appointment of a forensic accountant, and legal fees. XTL Biopharmaceuticals Ltd. believes the claims are meritless and intends to respond fully. This company operates in the biotechnology industry, focusing on drug discovery and development.