DPW Holdings Announces That It has Finalized the Terms of a Settlement Agreement in the Derivative Action Filed Against It as a Nominal Defendant and Its Directors
Should the Court preliminarily approve the Agreement, the Court would then schedule a final approval hearing with respect thereto. Prior to the final approval hearing, DPW’s stockholders will be afforded the opportunity to raise objections to the Agreement. In the event that the stockholders do not object to the Agreement, DPW believes that the Court would then enter final approval thereof. The exact terms of the Agreement, as the same may hereafter be amended or supplemented, will be made publicly available through the PACER website once the motion for preliminary approval is filed. The resolution of the Derivative Action is expected to include a waiver of all claims against the Company, and release thereof by all of the Company’s stockholders.
The Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available on its website at www.DPWHoldings.com under the Investor Relations section or available at www.sec.gov.
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the
Contacts: IR@DPWHoldings.com or 1-888-753-2235
Source: DPW Holdings, Inc.