Zimi
Alfalfa Health Investments (Nasdaq: CLOVE) said it agreed to settle derivative lawsuits arising from the de-SPAC deal in 2021.
Clover said it had reached agreement in principle to resolve seven derivatives lawsuits filed in Delaware, New York and Tennessee. the The proposed settlement contains no admission of wrongdoing or liability by the defendants, nor does it include any cash payments on top of fees and expenses to plaintiffs’ attorneys.
The company said that along with settling the securities class action in April, Clover has now reached settlements for all pending civil lawsuits filed after the de-SPAC deal.
Clover went public in January 2021 through its merger with SPAC Social Capital Hedosophia Holdings Corp. III which was valued at about $3.7 billion.