Foxx Development settles class action by amending charter; stockholder vote set

Foxx Development Holdings Inc.

Lawsuit filed Nov 22, 2024 by Ximena Semensato in Delaware Chancery challenging corporate opportunity waiver in charter.
Board approved Second Amended and Restated Certificate of Incorporation to amend Article X, pending stockholder approval at next annual meeting.
Plaintiff will file voluntary dismissal as moot upon notice of board action.
Company and individual defendants deny wrongdoing but settle to avoid litigation costs.

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