Cision cancels dividend proposal on damages fears

Global PR software and media tools company Cision AB’s (STO: CSN) Board of Directors has decided to cancel the dividend proposal of 2 SEK a share in light of continuing uncertainty relating to a threat of damages claims from a major US publisher pertaining to an alleged infringement of rights.

Cision communicated the matter on March 8th. The company said then that it is impossible to quantify a likely potential liability but said the possibility of the impact on full-year earnings being significant cannot by excluded. The stock already fell heavily on that day and shed a further 9% today.