Chrysalis, Revolution settle dispute over investment loss

(Sharecast News) - Chrysalis Investments on Thursday said it had reached a settlement with Revolution Beauty over its claim against the troubled AIM-listed cosmetics retailer. Under the terms of the settlement, Revolution Beauty has agreed to pay the former investor "a non-material sum, being less than 1% of the company's market capitalisation" on Jan 2. All other details of the settlement remain confidential

Chrysalis took a £45m stake in Revolution, but offloaded it in 2022 for just £5.7m. It then made several allegations against Revolution, accusing it of "'deceit, negligent misstatement and/or misrepresentation' misstatements and material omissions" at the time of the purchase. Revolution disputed the accusations.

It then stepped up its case, threatening a legal claim to recover £45.2m.

Revolution in a separate statement said no case had ever been filed and that Chrysalis would not proceed with any claims after the settlement.

Reporting by Frank Prenesti for Sharecast.com