---
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"
generated_at: "2026-06-21T05:51:19.144271+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Orrstown settles shareholder class action for $15M; company contributes $13M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: litigation
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826154-22-000188
- JSON: https://secwatch.observer/filing/0000826154-22-000188.json
- Plain text: https://secwatch.observer/filing/0000826154-22-000188.txt

## Key facts
- Material Agreements
  ORRSTOWN FINANCIAL SERVICES INC entered into Stipulation and Agreement of Settlement valued at $15.0 million (effective 2022-12-07).
  - Action: entry
  - Agreement: settlement
  - Value: $15.0 million
  - Effective: 2022-12-07
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/826154/000082615422000188/0000826154-22-000188-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.