Motorsport Games: Wesco insurance coverage lawsuit settled with $800K payment to majority shareholder

Motorsport Games Inc.

Wesco Insurance agrees to pay $800,000 to Driven Lifestyle (majority shareholder) within 30 days.
Settlement resolves Coverage Action seeking declaratory relief on Wesco's obligations under excess policy.
Parties to file stipulations to dismiss Coverage Action with prejudice within 10 days of payment.
Company remains a defendant in the underlying HC2 and Continental stockholder complaint, not resolved by this settlement.
Settlement releases claims between Wesco and Driven Lifestyle and their subsidiaries.

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