XTL Biopharma faces shareholder bid for derivative suit seeking NIS 100 million damages
XTLB•Damages estimate and requested remedies
The motion seeks damages for alleged loss of subsidiary value, estimated at about NIS 100 million for court-fee purposes, plus disgorgement.
Additional requests include appointing a forensic accountant to review the company’s and subsidiary’s books. The motion is being contested.
Claims focus on 2024 acquisition of The Social Proxy
The claims target the controlling shareholder plus current and former directors and officers over the 2024 acquisition of The Social Proxy.
Allegations include duty breaches tied to funding commitments, conflicts of interest, delayed disclosure on loss of control, and financial irregularities. The unit entered liquidation on Feb. 22, 2026.
Shareholder motion seeks permission for derivative suit
XTL Biopharmaceuticals was served on Aug. 3, 2026 with a shareholder motion in Tel Aviv-Jaffa court seeking permission to bring a derivative suit.
