Here’s the settlement that CYDY’s SLC recommen
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Posted On: 01/28/2021 7:08:08 PM
Re: MidnightJester #74880
Here’s the settlement that CYDY’s SLC recommended. This may or may not match the final settlement. They may attempt to force NP to return the shares he sold in some form. This is from early January 2021, not from the link you provided.
“On December 15, 2020, the SLC informed the Court of Chancery that it reached a proposed settlement with the defendants in the Delaware Litigation. According to the Memorandum of Understanding filed with the Court of Chancery on December 18, 2020, the proposed settlement includes, among other things, a disgorgement of all awards that Klump, Naydenov, and Welch granted to themselves in December 2019, two million warrant shares awarded to Pourhassan (not including Pourhassan’s two million options subject to this lawsuit, which he already exercised and sold), and 60% of the options awarded to Kelly.8 See Weythman Decl. Ex. 5 ¶ 2. The SLC’s counsel advised the Court of Chancery that it will file the final settlement agreement with a motion seeking the court’s approval no later than January 19, 2021.”
“On December 15, 2020, the SLC informed the Court of Chancery that it reached a proposed settlement with the defendants in the Delaware Litigation. According to the Memorandum of Understanding filed with the Court of Chancery on December 18, 2020, the proposed settlement includes, among other things, a disgorgement of all awards that Klump, Naydenov, and Welch granted to themselves in December 2019, two million warrant shares awarded to Pourhassan (not including Pourhassan’s two million options subject to this lawsuit, which he already exercised and sold), and 60% of the options awarded to Kelly.8 See Weythman Decl. Ex. 5 ¶ 2. The SLC’s counsel advised the Court of Chancery that it will file the final settlement agreement with a motion seeking the court’s approval no later than January 19, 2021.”
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