Priority Tech resolves derivative suit by unwinding 2020 exchange; pays $400K fees

Priority Technology Holdings, Inc.

Derivative suit alleged breach of fiduciary duties over 2020 exchange of preferred units for cash and 1,428,358 common shares.
On Jan 30, 2024, company agreed to unwind the Exchange Transaction to restore pre-transaction positions.
Company paid $400,000 in attorneys' fees; claims declared moot; no admission of wrongdoing.
Court dismissed action on Feb 20, 2024, with notice of fee payment required.

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