Coty settles stockholder litigation over 2019 tender offer for $35M and governance changes

COTY INC.

Settlement of consolidated class/derivative action for $35,000,000 cash plus corporate governance changes.
Governance changes include restrictions on JAB's share sales and purchases, new lead independent director, and amendment of Stockholders Agreement.
No admission of wrongdoing by defendants; settlement subject to Court approval with hearing scheduled June 13, 2023.
Eligible Class Members (tendering stockholders) will receive pro rata distribution without filing claim forms.
Action alleged breaches of fiduciary duty in connection with 2019 partial tender offer at $11.65/share.

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