Aterian settles shareholder derivative suit; adopts corporate governance reforms

Aterian, Inc.

Settlement of derivative action Zhang v. Aterian et al.; court preliminarily approved Dec 29, 2022.
Company to adopt governance reforms for at least 5 years; reforms outlined in Exhibit A of stipulation.
Aterian to pay $250,000 in plaintiffs' attorneys' fees and expenses.
All defendants deny wrongdoing; settlement avoids further litigation costs and risks.
Final approval hearing scheduled for March 17, 2023.

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