Singapore's City Developments executive chairman drops lawsuit to remove CEO son
City Developments said its executive chairman has dropped a lawsuit against his son, the company's CEO, seeking to resolve a high-profile boardroom tussle at one of Singapore's largest property developers.
City Developments Shares Rise After Executive Chairman Discontinues Lawsuit
City Developments' shares rose sharply Thursday, after the executive chairman of the Singapore-listed property developer said he would drop his lawsuit against his son and other board members. Shares were recently 3.85% higher at 5.13 Singapore dollars, equivalent to US$3.85.
CDL Shares Rise After Billionaire Drops Case Against CEO Son
Singapore real estate billionaire Kwek Leng Beng dropped a lawsuit against the son he accused of carrying out a board coup last month, patching up a family feud as abruptly as it erupted.
City Developments' billionaire executive chair drops legal case against CEO son
Singapore's City Developments on Wednesday said its billionaire executive chairman, Kwek Leng Beng, had dropped a lawsuit against his son, the company's CEO, whom he had accused of plotting a boardroom coup.
Property Billionaire Kwek Leng Beng Drops Case Against Son, Keeps City Developments Roles
Billionaire Kwek Leng Beng has withdrawn the court case he filed against his son last month as the top executives of City Developments jostled for control of the Singapore property giant.
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