Lawsuit filed against Clearbridge Health chief in Jakarta court

MEDICAL tech company Clearbridge Health’s executive director and chief executive Jeremy Yee is among the defendants named in a civil suit filed by the shareholder of a former subsidiary, the company said on Thursday (Jun 1). 

The plaintiff, Kreasi Putra Nusantara (KPN), is an Indonesian biotechnology company that owns a stake in former Clearbridge Health subsidiary Indo Genesis Medika (IGM). 

Clearbridge Health understands that the court summons relate to an extraordinary general meeting (EGM) of IGM held on Dec 12, 2022, as well as an invitation sent to effect the EGM. 

It was informed of the suit on May 29, the same day Yee had been personally served with the court summons. 

Yee had signed the invitation to the EGM in his capacity as president-commissioner of the IGM board of commissioners. 

KPN is requesting the Jakarta court to order Yee to pay damages of 30 billion rupiah (S$2.7 million) and declare that the EGM was unlawfully conducted and therefore invalid. 

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Clearbridge Health said that at the time of the EGM, IGM already was no longer a subsidiary of the group. The company had announced in October last year that it had divested 100 per cent of its interests in Sam Laboratory, which in turn held IGM as a subsidiary. 

Clearbridge Health’s nominating committee and board are of the view that Yee “remains suitable” to continue in his roles. 

The Catalist-listed company’s counter closed flat at S$0.027 on Wednesday.