---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-21-067543"
form_type: "8-K"
ticker: "WORX"
cik: "0001674227"
company_name: "SCWorx Corp."
filed_at: "2021-12-27T23:59:59+00:00"
generated_at: "2026-06-27T22:20:48.894318+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SCWorx settles securities class action; to issue $600K in stock to plaintiffs

## Summary
- Company and former CEO Marc Schessel settle consolidated securities class action filed in 2020 over COVID-19 test kit statements.
- Insurers to make cash payment; company to issue $600,000 of common stock to class plaintiffs in exchange for release of all claims.
- Settlement subject to court approval within 30 days; parties to negotiate definitive agreement.
- Stock issuance will satisfy company's $750,000 D&O insurance retention liability.

## SEC filing metadata
- accession: 0001213900-21-067543
- form_type: 8-K
- ticker: WORX
- cik: 0001674227
- company_name: SCWorx Corp.
- filed_at: 2021-12-27T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674227/000121390021067543/0001213900-21-067543-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674227/000121390021067543/ea153082-8k_scworxcorp.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-21-067543
- JSON: https://secwatch.observer/filing/0001213900-21-067543.json
- Plain text: https://secwatch.observer/filing/0001213900-21-067543.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.