Couple comments. The 10% rule is that if the settlement exceeds 10% of current assets it must be disclosed. That does not mean if the amount is less it does not need to be disclosed - at that point the company must still make a materiality decision. (SEC of course doesn’t determine what is material to be posted it just sanctions improper non-disclosure after the fact). I asked Gemini to identify the amount of “current assets” in recent disclosures and it said $7.2mm. I am not in the middle of the night gonna try to check that but if that is a correct statement the 10% threshold is exceeded if the settlement amount is more than $720k. Second, a confidentiality provision does not exempt company from sec reporting requirements (Krisgo is not necessarily saying otherwise). Sec reporting rules supersede a contractual confidentiality provision. Third the case is a contingency fee case undoubtedly and therefore professional fees have not been incurred and therefore the reporting would not change. Whether the settlement is “final” enough to be reported as a subsequent event before an Order is entered would be determined by the terms of the underlying and confidential settlement agreement. As of this post there is no order only a “corrected proposed” order has been submitted to the court. Semper Fi has posted that document as submitted. A lot of maybes. LFG.
Market Data 
Markets 
AI
