NortonLifeLock settles shareholder derivative suit for $450K, adopts governance reforms

Gen Digital Inc.

Preliminary approval granted May 4, 2022; final hearing set for July 7, 2022.
Company to pay $450,000 in plaintiff's attorneys' fees and expenses.
Corporate governance reforms to be adopted per Exhibit A of stipulation.
Settlement resolves derivative claims related to GSA contract compliance and False Claims Act allegations.
Individual defendants deny wrongdoing; settlement eliminates uncertainty and expense.

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