Court approves settlement of derivative suit over 2020 certificate amendment; $290k fee awarded

ASTROTECH Corp

On Feb 13, 2023, Delaware Chancery Court approved settlement of Stein v. Pickens derivative action with prejudice.
Plaintiff alleged improper broker non-vote inclusion in tabulation for 2020 Certificate Amendment; defect previously remedied via Oct 2021 Validity Order.
Settlement requires Astrotech to implement corporate governance measures and pay $290,000 for plaintiff's attorneys' fees and expenses.
Parties deny liability; entry into settlement does not constitute admission of wrongdoing.

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