Fu Yu says legal advice shows no basis to pursue ex-staff, supports settlement payouts

• Fu Yu detailed its rationale for settling with six individuals named in earlier FYSCS-related investigations, despite previously issuing demand letters on April 1, 2025.
• The board cited a September 2025 written opinion from Nine Yards concluding there was no legal basis to pursue claims, with further spending unlikely to benefit shareholders.
• It also flagged litigation exposure from April 2025 public statements tied to unproven allegations, citing defamatory risk and a “real risk” of claims if left unresolved.
• The board said it received no formal or informal disputes from the six parties, though one party made informal contact; settlements were drafted to cover potential counterclaims.
• Separately, it clarified Feb. 4, 2026 replacement announcements added disclosure of Victor Lim’s interest in 17,400 shares held via a custodian account.

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