---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-002242"
form_type: "8-K"
ticker: "IPW"
cik: "0001830072"
company_name: "iPower Inc."
filed_at: "2024-04-09T23:59:59+00:00"
generated_at: "2026-06-04T01:05:55.065381+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# iPower settles FINRA arbitration with Boustead for $1.3M; CEO & co-founder pledge shares

## Summary
- Settlement of FINRA Case No. 22-01133; iPower pays $1.3M in four $325K installments starting April 3, 2024.
- CEO Chenlong Tan and co-founder Allan Huang each pledge 1,300,000 IPW shares (total 2.6M) to recoup settlement.
- Company may sell pledged shares into market; any dividends on collateral retained and credited toward repayment.
- BSL to dismiss arbitration after final payment by July 8, 2024; iPower dismisses counterclaims.
- Tan's prior indemnification agreement capped at $3.5M; Huang voluntarily contributes shares.

## SEC filing metadata
- accession: 0001683168-24-002242
- form_type: 8-K
- ticker: IPW
- cik: 0001830072
- company_name: iPower Inc.
- filed_at: 2024-04-09T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1830072/000168316824002242/0001683168-24-002242-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1830072/000168316824002242/ipower_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-002242
- JSON: https://secwatch.observer/filing/0001683168-24-002242.json
- Plain text: https://secwatch.observer/filing/0001683168-24-002242.txt

## Key facts
- Material Agreements
  iPower Inc. entered into Settlement Agreement with Boustead Securities, LLC valued at $1.3 million (effective 2024-04-03).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Boustead Securities, LLC
  - Value: $1.3 million
  - Effective: 2024-04-03
  source text: Davidson”), entered into a settlement agreement and mutual release (the “Settlement Agreement”) with Boustead Securities, LLC (“BSL”) and its current and former employees, officers, directors, partners, agents and affiliates,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830072/000168316824002242/0001683168-24-002242-index.htm

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