Aditya Infotech faces $5 million arbitration claim from Avathon and SparkCognition
Business
Aditya Infotech, the company behind CP Plus security cameras, is facing a $5 million arbitration claim in New York from Avathon and SparkCognition.
The issue? Aditya was supposed to buy and resell their products, but allegedly didn't follow through.
Late May arbitration seeks 18% interest
The claim, filed in late May, also asks for 18% interest starting May 16, 2027.
Aditya told stock exchanges about the case on July 8 after some legal back-and-forth.
Despite the big numbers, the company says this won't seriously impact its finances, and its stock price even ticked up a bit today.