Spruce Power to pay $19.5M to settle securities class action; court preliminarily approved

SPRUCE POWER HOLDING CORP

Company funds ~$15.5M; D&O insurers expected to fund ~$4M of $19.5M total settlement.
Court preliminarily approved settlement on Jan 18, 2024; final approval hearing scheduled Apr 30, 2024.
Settlement resolves claims of false statements about revenue, sales pipeline, supply chain from Sep 2020 to Mar 2021.
Company had already accrued the settlement amount as of Sep 30, 2023, per prior Q3 2023 disclosure.
Company admits no wrongdoing; settlement is not an admission of liability.

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