Notice of Settlement of Derivative Suit
Retrieved on:
Wednesday, June 30, 2021
The Stipulation and the settlement contemplated therein (the Settlement), subject to the approval of the Court, is intended by the Settling Parties1 to fully, finally, and forever compromise, resolve, discharge, and settle the Released Claims and to result in the complete dismissal of the Derivative Action with prejudice, upon the terms and subject to the conditions set forth in the Stipulation.
Key Points:
- The Stipulation and the settlement contemplated therein (the Settlement), subject to the approval of the Court, is intended by the Settling Parties1 to fully, finally, and forever compromise, resolve, discharge, and settle the Released Claims and to result in the complete dismissal of the Derivative Action with prejudice, upon the terms and subject to the conditions set forth in the Stipulation.
- The proposed Settlement requires the Company to adopt certain additional corporate governance measures and procedures, as outlined in Exhibit A to the Stipulation, and provides that the Demand made by Plaintiff Walker was a consideration in the Companys implementation of the Quality Reforms outlined in Exhibit B to the Stipulation.
- This notice is a summary only and does not describe all of the details of the Stipulation.
- Any Insulet Shareholder who wishes to object to the fairness, reasonableness, or adequacy of the Settlement as set forth in the Stipulation, or to the proposed award of attorneys fees and expenses, may file an objection.