Mayne Pharma Group (ASX:MYX) said that one of its US subsidiaries, Mayne Pharma LLC, filed a complaint in the United States District Court for the District of Delaware against TherapeuticsMD, seeking over $11.5 million in damages incurred as a result of alleged misrepresentations about assets sold by the firm, according to a Monday Australian bourse filing.
The complaint made claims against TherapeuticsMD for alleged breach of contract and fraud, alleging that the firm concealed information about certain commercialization assets it sold to Mayne Pharma on Dec. 4, 2022.
The complaint is related to the legal proceeding brought by TherapeuticsMD earlier, alleging breach of contract, fraudulent inducement, and unjust enrichment related to the 2022 transaction agreement between both firms.
Mayne Pharma filed a motion to dismiss TherapeuticsMD's proceeding in its entirety.
The unit denies any and all allegations of wrongdoing and believes TherapeuticsMD's proceeding to be without merit.
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