Opendoor derivative litigation settlement gets preliminary approval; governance reforms to be implemented

Opendoor Technologies Inc.

Preliminary approval granted Sept 11, 2025 by U.S. District Court for Arizona for settlement of derivative actions (Gera, Delaware Chancery, Juul, Woods).
Settlement requires Opendoor to adopt corporate governance reforms (detailed in Exhibit A) in exchange for full release of claims.
Settlement resolves claims under Section 14(a) and fiduciary duty claims; no monetary payment to plaintiffs.
Attorneys' fees to be paid by Defendants' insurers subject to court approval; stockholder notice period to follow.
Final approval hearing to be scheduled after notice and comment period.

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