HUB Cyber Security Strongly Responds To Dominion’s Misleading Lawsuit; Reaffirms Dedication To Expansion And Worldwide Customer Support

TEL AVIV, Israel, April 19, 2024 (GLOBE NEWSWIRE) -- via IBN -- HUB Cyber Security Ltd. (Nasdaq: HUBC), a developer of confidential computing cybersecurity solutions and advanced data services ("HUB" or the "Company"), addresses the proceedings initiated by Dominion in the US and Israel, including an application to the District Court of Tel Aviv to commence proceedings under Israeli insolvency law.

HUB considers Dominion’s action to be frivolous, entirely without merit, and an illegitimate attempt to pressure the Company with respect to a commercial dispute pending in a New York court. HUB has filed a counterclaim in the New York court action, alleging various misconduct by Dominion. HUB is fully committed to defending its reputation and the integrity of its business operations through all necessary legal means.

HUB is a robust company that has won the trust of investors and its dedicated clients. As announced earlier this month, HUB has recently raised funds exceeding $8 million and acquired the shares of QPOINT, a company with annual revenues surpassing $26 million. This acquisition is a strategic expansion that complements HUB's continuously growing pipeline of innovative solutions and market reach.

HUB remains on track to meet its business objectives for the year. The Company continues to sharply focus on innovation, customer satisfaction, and market expansion. The Company is on a path toward sustained growth and is enthusiastic about the future as it continues to deliver outstanding value to its customers.

HUB remains steadfast in supporting its global clients. We are particularly proud of the essential role played by our client, 'Rafael Advanced Defense Systems', developer of the 'Iron Dome,' in protecting Israel's borders. Our commitment to excellence and robust security measures remains unwavering as we continue to maintain the highest standards in all our business endeavors.

For further information or inquiries, please contact: [e-mail]

About HUB Cyber Security Ltd. 

HUB Cyber Security Ltd. ("HUB Security") was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The Company specializes in unique cyber security solutions protecting sensitive commercial and government information. The Company debuted an advanced encrypted computing solution to prevent hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB Security operates in over 30 countries and provides innovative cybersecurity computing appliances and a wide range of cybersecurity services worldwide.