secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2022-09-30T23:59:59+00:00
Accession:  0001193125-22-255676
Event type: litigation
Sentiment:  negative
Materiality: 0.75
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Salem Media settles Texas lawsuit for $5.325M, up from $1.5M accrued
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- Settlement with Cort Thomas (Receiver/Assignee) resolves 2020 lawsuit alleging Texas Securities Act violations.
- Company will pay $5.325 million, compared to $1.5 million accrued as of June 30, 2022.
- Company denies allegations but settled to avoid costly litigation; court approval required.
- Court denied company's summary judgment motions on September 12, 2022, preceding settlement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312522255676/0001193125-22-255676-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312522255676/d372836d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-255676

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