Cannae settles derivative suit for $6M; governance reforms and fee cuts

Cannae Holdings, Inc.

Settlement includes $6M cash payment to Cannae; court hearing set for June 8, 2023 to approve.
Governance changes: creation of Related Person Transaction Committee and new policy.
Management fee from Trasimene reduced from 1.5% to 1.25% for assets >$2.5B; termination fee capped.
Cannae to receive 75.1% ownership in Trasimene's broker-dealer business.
Settlement resolves claims over ISIP compensation, Ceridian IPO awards, and externalization.

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