litigation
confidence high
sentiment neutral
materiality 0.50
Court preliminarily approves derivative lawsuit settlement against World Acceptance Corp.
WORLD ACCEPTANCE CORP
- Preliminary approval granted for settlement of derivative action filed in 2020 against officers/directors.
- Insurers to pay $700,000 in attorneys' fees and expenses; hearing set for June 20, 2023.
- World Acceptance to adopt corporate governance reforms detailed in Exhibit A of the stipulation.
- Derivative action will be dismissed with prejudice upon final court approval.