PLX 8-K
Protalix BioTherapeutics, Inc. (PLX)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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the Securities Exchange Act of 1934
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Item 8.01 | Other Events |
On August 1, 2025, Protalix BioTherapeutics, Inc. (the “Company”) announced the dismissal of a claim against the Company and its Board of Directors (the “Board”). On March 10, 2025, plaintiff Kevin Mathew Thomas (“Plaintiff”) filed a Verified Stockholder Class Action Complaint (the “Complaint”) in the Court of Chancery of the State of Delaware against the Company and the members of its Board, captioned Thomas v. Bashan, et al., C.A. No. 2025-0259- PAF (the “Action”). In the Action, Plaintiff alleged that certain provisions in the Amended and Restated Bylaws of Protalix BioTherapeutics, Inc. (as adopted on December 27, 2024, the “Bylaws”) violated the terms of 8 Del. C. §§ 141(k) & 228(a). While the Company and the Board deny completely all of the allegations of wrongdoing in the Complaint, on May 8, 2025, the Board amended the Bylaws. As a result of this amendment of the Bylaws, Plaintiff agreed that his claims were moot, and the Company agreed to pay $160,000 in fees and expenses to Plaintiff’s counsel. On July 23, 2025, the Court entered a Stipulation and Order providing that Plaintiff’s Action would be dismissed with prejudice only as to Plaintiff and the case will be closed. The Court has not passed on the amount of fees and expenses. Plaintiff’s Counsel are Fields Kupka & Shukurov LLP, (212) 231-1500, ATTN: Christopher J. Kupka. Defendants’ Counsel are Mayer Brown LLP, (212) 506-2500, ATTN: Henninger S. Bullock.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: August 1, 2025 | PROTALIX BIOTHERAPEUTICS, INC. | ||
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| By: | /s/ Dror Bashan | |
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| Name: | Dror Bashan |
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| Title: | President and |