The Italian Supreme Court issued a ruling on March 14, 2025, regarding the SNIA environmental litigation, determining that LivaNova can be held liable for established environmental liabilities of SNIA. However, the Court also ruled that LivaNova is not responsible for certain payments previously approved by the Court of Appeal of Milan, amounting to €157.3 million, or approximately $170.0 million as of March 31, 2025.
As a result of this decision, LivaNova recorded a liability of €333.3 million, or $360.4 million as of March 31, 2025, as its best estimate for the liability, including estimated costs, fees, interest, and taxes. The case has been referred back to the Court of Appeal of Milan to implement the decisions regarding costs and damages.
The SNIA Litigation Guarantee was terminated on March 31, 2025, and the restriction on the cash deposit held as collateral was released. This resolution removes a significant financial uncertainty that had been a long-standing overhang, providing LivaNova with greater capital allocation flexibility.
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