SCWorx gets preliminary court approval of derivative settlement; insurers pay fees, company adopts reforms

SCWorx Corp.

Court preliminarily approved settlement of three shareholder derivative lawsuits against directors.
Insurers of director defendants to pay plaintiffs' legal fees; company adopts governance reforms.
Lawsuits alleged directors breached fiduciary duties regarding April 2020 COVID-19 rapid test kit press release.
No financial payment by SCWorx; settlement releases all claims against company and directors.

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