(Alliance News) - Big Technologies PLC on Friday said that legal proceedings against it have been made with the High Court of Justice in England & Wales.

The Rickmansworth, England-based remote people monitoring technology company said it received a letter of potential claim from a small number of former shareholders of subsidiary Buddi Ltd, which Big Technologies had bought in 2018.

The claim relates to the operation of a drag mechanism in the articles of Buddi that was utilised in connection with the acquisition of Buddi.

Big Technologies provides products to the personal monitoring industry under a number of brands, with Buddi being the most well-known.

"The company has taken advice from its lawyers and from King's Counsel and remains confident that the claim lacks legal and factual merit and intends to defend its position robustly," Big Technologies said.

Big Technologies shares fell 3.0% to 254.12 pence each on Friday morning in London.

By Tom Budszus, Alliance News reporter

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