litigation
confidence high
sentiment neutral
materiality 0.35
Clover Health pays $250,000 to settle shareholder lawsuit fee claim
CLOVER HEALTH INVESTMENTS, CORP. /DE
- Plaintiff challenged board nomination bylaw as preclusive; company amended bylaw to moot action.
- To avoid further litigation, Clover agreed to pay $250,000 to plaintiff's counsel for fees and expenses.
- Case was dismissed voluntarily after bylaw amendment; court retained jurisdiction only for fee application.