Phunware settles Wild Basin lawsuit; $2.8M insurance payment, claims against company continue

Phunware, Inc.

Settlement provides $2.8M insurance payment to plaintiffs and $0.2M to Phunware.
Claims against Phunware (Count I) remain; trial scheduled for March 2025.
Plaintiffs agree to stay collection of any judgment until Wilson Sonsini arbitration concludes.
Phunware to deposit proceeds from that arbitration into escrow for plaintiffs and itself.
Company has not recorded a liability; loss not currently probable or estimable.

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