Brief: Scworx Completes Settlement Of Previously Disclosed SEC Matter

Scworx

06/06/2022 18:39

June 6 (Reuters) - Scworx Corp  WORX.O :
    * SCWORX COMPLETES SETTLEMENT OF PREVIOUSLY DISCLOSED SEC
MATTER
    * SCWORX - HAS AGREED TO SETTLEMENT, WHICH HAS RECEIVED
FINAL
COURT APPROVAL, THAT INCLUDES PERMANENT INJUNCTIONS, PAYMENT OF
$125,000 PENALTY
    * SCWORX CORP-  HAS AGREED TO DISGORGEMENT OF $471,000 WITH
PREJUDGMENT INTEREST OF $32,761.56
    * SCWORX - EXPECTED TO SATISFY OBLIGATION TO PAY
DISGORGEMENT AND
PREJUDGMENT INTEREST BY CONTRIBUTING STOCK, VALUED AT $600,000
AT TIME OF ISSUANCE
    * SCWORX CORP- RECORDED AN ACCRUAL FOR FULL AMOUNT OF THIS
PENALTY
IN Q1 OF 2022, WHICH WAS REFLECTED IN  10-Q FINANCIAL RESULTS

Source text for Eikon:  ID:nGNX7Jvxd3 
Further company coverage:  WORX.O 

 ((Reuters.Briefs@thomsonreuters.com;))