AEP settles HB6 derivative litigation with $450K fee and governance reforms

AMERICAN ELECTRIC POWER CO INC

Court preliminarily approved settlement on July 10, 2024; final hearing set for October 3, 2024.
Settlement includes $450,000 for plaintiffs' attorneys' fees and no admission of liability.
AEP to adopt corporate governance reforms including political engagement oversight and semi-annual reports.
Reforms to remain in effect for at least five years following the settlement effective date.
Derivative actions and litigation demand will be dismissed with prejudice upon final approval.

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