---
schema_version: "secwatch.filing_event.v1"
accession: "0001653558-24-000027"
form_type: "8-K"
ticker: "PRTH"
cik: "0001653558"
company_name: "Priority Technology Holdings, Inc."
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T17:10:50.357860+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001653558-24-000027
- form_type: 8-K
- ticker: PRTH
- cik: 0001653558
- company_name: Priority Technology Holdings, Inc.
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1653558/000165355824000027/0001653558-24-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1653558/000165355824000027/prth-20240223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001653558-24-000027
- JSON: https://secwatch.observer/filing/0001653558-24-000027.json
- Plain text: https://secwatch.observer/filing/0001653558-24-000027.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.