Clover Health Provides Notice Associated with Previously Disclosed Settlement of Shareholder Derivative Actions
Tenn.); (2) In re: Clover Health Investments Corp.
- Tenn.); (2) In re: Clover Health Investments Corp.
- (collectively the "Shareholder Derivative Actions").
- The Shareholder Derivative Actions were filed in the wake of the Company's de-SPAC transaction.
- As previously disclosed, on February 5, 2024, the plaintiffs in the Shareholder Derivative Actions, on the one hand, and the Company, on the other hand, executed a Stipulation and Agreement of Settlement dated February 2, 2024 (the "Stipulation"), which, subject to final court approval, provides the defendants in the Shareholder Derivative Actions with customary releases and, as previously disclosed, will require the Company to implement a suite of corporate governance enhancements (the "Settlement").