SkinHealth Systems agrees to $18M securities class action settlement; insurer pays $15M

SkinHealth Systems Inc.

Company will pay $3M of $18M total; remaining $15M from insurers to settle Alghazwi v. The Beauty Health Company.
Settlement covers class period May 10, 2022 – Nov 13, 2023; no admission of wrongdoing by company or individual defendants.
Plaintiff attorneys' fees estimated at up to 30% of settlement ($5.4M) subject to court approval.
Cash payment to be escrowed within 30 days after court grants preliminary approval; settlement fully resolves class action.

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