HCSG settles shareholder derivative suits; pays $1M in fees from insurance, adopts governance changes

HEALTHCARE SERVICES GROUP INC

Company settles four derivative actions without admitting fault or wrongdoing.
Pays $1 million for plaintiffs' counsel fees and expenses, fully covered by insurance.
Agrees to continue and/or adopt certain corporate governance practices.
Settlement subject to final court approval; preliminary approval granted June 8, 2022.
Suits named current/former directors and officers; dismissal on all claims expected.

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