---
schema_version: "secwatch.filing_event.v1"
accession: "0001829576-24-000059"
form_type: "8-K"
ticker: "CARE"
cik: "0001829576"
company_name: "Carter Bankshares, Inc."
filed_at: "2024-08-28T23:59:59+00:00"
generated_at: "2026-05-31T07:14:09.973474+00:00"
event_type: "litigation"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Carter Bankshares resolves GLAS Trust lawsuit with prejudice; Justice entities reaffirm loans

## Summary
- GLAS Trust lawsuit dismissed with prejudice on Aug 28, 2024; cannot be refiled.
- GLAS Trust and affiliates executed release waiving all claims against Carter Bank.
- James C. Justice II entities reaffirmed legality and binding nature of loan documents.
- Financial impact of settlement to be disclosed in Q3 2024 earnings and 10-Q.

## SEC filing metadata
- accession: 0001829576-24-000059
- form_type: 8-K
- ticker: CARE
- cik: 0001829576
- company_name: Carter Bankshares, Inc.
- filed_at: 2024-08-28T23:59:59+00:00
- event_type: litigation
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000059/0001829576-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000059/care-20240828.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829576-24-000059
- JSON: https://secwatch.observer/filing/0001829576-24-000059.json
- Plain text: https://secwatch.observer/filing/0001829576-24-000059.txt

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