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Psion's legal troubles in Japan have taken a turn for the worse, after one of its trading partners began a court action claiming ¥1,504m (£8.6m).
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The hand-held computing specialist called in forensic consultants in August after first receiving claims totalling £12m. Psion has made a £9m counter-claim for receivables from these partners, but, with the court action expected to take several years, will record this as a provision.
The shares fell 8 per cent to 62p on the news, but little has changed since steady results in August. Good value.
Last IC View: Good value, 89p,15 August 2008.
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-IC-1.5.4a-prod - 31/10/2008 13:11:34 - carlos.princz
