litigation
confidence high
sentiment neutral
materiality 0.05
Freshpet settles moot stockholder class action for $72,617 in attorneys' fees
Freshpet, Inc.
- Agreed to pay $72,617.33 to plaintiff's counsel to resolve fee claim in mooted class action Panek v. Cyr.
- Action stemmed from proxy contest by JANA; Freshpet postponed annual meeting and added board seats.
- Defendants deny any wrongdoing; payment is a business decision to avoid litigation costs.
- Delaware Court of Chancery closed the case on February 28, 2024, subject to affidavit filing.