Business
Nearmap (ASX:NEA) share price dives 16% on legal proceedings – The Motley Fool Australia
The Nearmap (ASX: NEA) share price is under selling pressure after the company revealed it’s facing legal proceedings from a rival firm.
Nearmap Ltd(ASX: NEA) shares surged almost 15% on Wednesday after the company upgraded its FY21 guidance. However, its shares then went into a trading halt before market close in relation to potential legal proceedings.
Today, the Nearmap share price is plunging after the company acknowledged the legal proceedings filed on behalf of competing aerial imagery firm, Eagle View Technologies and its subsidiary Pictometry International Corp.
Legal proceedings drive Nearmap share price lower
The Nearmap…
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