The Buddi Litigation: Why Big Technologies Paid £38.5 Million to Settle
Former Buddi shareholders brought proceedings alleging they were wrongly forced — or induced by misrepresentation — to sell shares and were denied the chance to reinvest into Big Technologies. The company later agreed a £38.5m settlement.
- 1.Proceedings were filed by former Buddi shareholders.
- 2.Claimants alleged shareholders representing ~7.9% of Buddi were wrongly forced, or induced by misrepresentation, to sell.
- 3.They alleged they were not given the opportunity to reinvest into Big Technologies.
- 4.The dispute concerned the 2018 Buddi acquisition and the exercise of drag rights.
- 5.Big Technologies agreed a £38.5m full and final settlement in January 2026.
The Buddi litigation was a separate dispute from the High Court proceedings between Big Technologies and Sara Murray. It was brought by former Buddi shareholders and concerned the acquisition of Buddi by the Big Technologies group.
The claimants alleged that shareholders representing approximately 7.9% of Buddi had been wrongly forced — or induced by misrepresentation — to sell their shares, and were not given the opportunity to reinvest into Big Technologies.
Background: the 2018 Buddi acquisition
The dispute centred on the 2018 transaction through which the Big Technologies group acquired Buddi. Minority shareholders in Buddi were affected by the exercise of contractual drag rights, which permitted majority shareholders to compel minority shareholders to sell their shares on the same terms as a majority sale.
The claimants' case was that the exercise of those drag rights, and the representations made in connection with the transaction, were improper. Big Technologies' later disclosures in its September 2025 litigation update were said to have a bearing on the Buddi litigation.
The drag-right dispute explained
A drag-along right allows majority shareholders to require minority shareholders to participate in a sale of the company. The purpose is to enable a clean exit for a buyer. The Buddi claimants alleged that the way the drag right was exercised — and the information provided to minority shareholders at the time — meant they were deprived of value and of the opportunity to reinvest into the enlarged Big Technologies group.
These were allegations by the claimants. They were not, before settlement, determined by a court to be well-founded.
Why the litigation was settled
On 19 January 2026 Big Technologies announced a £38.5 million full and final settlement of the Buddi litigation. The company described the settlement as resolving significant uncertainty. The settlement is examined in detail on the £38.5m settlement page.
An admission of liability, or proof of every underlying allegation — unless the settlement terms or an authoritative source explicitly say so. A settlement resolves a dispute; it does not, by itself, establish the truth of the claims.
Financial consequence
The settlement gave rise to a £38.5m provision recognised in the company's 2025 audited results, contributing to a £23.015m statutory operating loss. See the financial impact page for the full breakdown.
Sources & documents used in this article
- [1] Big Technologies plc / FCA NSM, RNS 3223P, 19 January 2026 — Further Litigation UpdateRead original ↗
- [2] Big Technologies plc, RNS 0481Z, 12 September 2025
- [3] Big Technologies plc, Audited Results 2025 (RNS 5284Y)