Priority Technology Settles Fiduciary Duty Lawsuit

Priority Technology Holdings Inc (PRTH) has released an update.

Jeffrey Edelman filed a lawsuit against Priority Technology Holdings and its board members, alleging breach of fiduciary duties in a transaction that unjustly benefited certain insiders. The company decided to reverse the transaction and settled the case by agreeing to pay $400,000 in legal fees, leading to the dismissal of the case as moot without the court judging the merits or reasonableness of the fees.

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