Brief: Scworx Announces Final Approval Of Previously Disclosed Securities Class Action And Derivative Action Lawsuits

Scworx

06/07/2022 17:25

July 6 (Reuters) - Scworx Corp  WORX.O :
    * SCWORX ANNOUNCES FINAL APPROVAL OF PREVIOUSLY DISCLOSED
SECURITIES CLASS ACTION AND DERIVATIVE ACTION LAWSUITS
    * SCWORX CORP - RECEIVED FINAL COURT APPROVAL TO SETTLE BOTH
SECURITIES CLASS ACTION AND DERIVATIVE ACTION LAWSUITS WHICH
WERE COMMENCED IN 2020
    * SCWORX CORP - WILL ISSUE $600,000 WORTH OF COMMON STOCK TO
CLASS
PLAINTIFFS
    * SCWORX CORP - INSURERS FOR COMPANY AND MARC SCHESSEL WILL
MAKE A
CASH PAYMENT TO CLASS PLAINTIFFS
    * SCWORX CORP- CO, DIRECTOR DEFENDANTS ENTERED INTO
SETTLEMENT
WITH SHAREHOLDER DERIVATIVE PLAINTIFFS TO SETTLE DERIVATIVE
LITIGATION IN WHICH CO WAS NOMINAL DEFENDANT
    * SCWORX - INSURERS FOR DIRECTOR DEFENDANTS WILL MAKE A CASH
PAYMENT TO LEGAL COUNSEL FOR SHAREHOLDER DERIVATIVE PLAINTIFFS
TO COVER THEIR LEGAL FEES
    * SCWORX CORP - WILL ADOPT CERTAIN CORPORATE GOVERNANCE
REFORMS
    * SCWORX CORP- IN EXCHANGE FOR CORPORATE REFORMS ALL PARTIES
WILL
BE RELEASED FROM ALL CLAIMS RELATED TO DERIVATIVE CLASS ACTION
LITIGATION

Source text for Eikon:  ID:nGNX5SLCzT 
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