{"schema_version":"secwatch.filing_event.v1","accession":"0000826154-22-000188","form_type":"8-K","ticker":"ORRF","cik":"0000826154","company_name":"ORRSTOWN FINANCIAL SERVICES INC","filed_at":"2022-12-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:53.667917+00:00","generated_at":"2026-06-21T05:51:19.144271+00:00","sec_items":["1.01","9.01"],"event_type":"litigation","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Orrstown settles shareholder class action for $15M; company contributes $13M","bullets":["Settlement resolves securities class action filed in 2012; Orrstown pays $13M of the $15M total.","Claims involved alleged false statements on loan portfolio and internal controls; no admission of wrongdoing.","Class period: March 15, 2010 to April 26, 2012; settlement requires preliminary and final court approval.","Company settled to avoid cost, risks, and distraction of continued litigation."],"urls":{"canonical":"https://secwatch.observer/filing/0000826154-22-000188","json":"https://secwatch.observer/filing/0000826154-22-000188.json","markdown":"https://secwatch.observer/filing/0000826154-22-000188.md","text":"https://secwatch.observer/filing/0000826154-22-000188.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/826154/000082615422000188/0000826154-22-000188-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/826154/000082615422000188/orrf-20221207.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T05:51:19.144271+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d2299794a99caff5965ede2fe4160de0e9cb58d2","claim":"ORRSTOWN FINANCIAL SERVICES INC entered into Stipulation and Agreement of Settlement valued at $15.0 million (effective 2022-12-07).","evidence_excerpt":"On December 7, 2022, Orrstown Financial Services, Inc. (the “Company”) entered into a Stipulation and Agreement of Settlement (the “Stipulation”) to settle and resolve the previously disclosed shareholder class action lawsuit","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/826154/000082615422000188/0000826154-22-000188-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"settlement"},{"label":"Value","value":"$15.0 million"},{"label":"Effective","value":"2022-12-07"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}