Core Viewpoint - Beneficient has entered into a binding agreement to settle all claims related to the GWG Holdings litigation, aiming to eliminate ongoing costs and distractions associated with the legal process while maintaining that the allegations are vigorously contested [1][2][4]. Group 1: Settlement Details - The proposed settlement is subject to court approval and will resolve all claims against Beneficient and its parties without any admission of fault or liability [3]. - The settlement amount will be paid entirely from funds available under applicable insurance policies [3]. Group 2: Company Position - The company disputes the allegations in the GWG Litigation but views the settlement as a significant step to refocus on its business plan and enhance shareholder value [4]. - Beneficient intends to support a vigorous defense against other outstanding GWG-related claims against parties other than itself [5]. Group 3: Company Overview - Beneficient operates a technology-enabled platform that provides exit opportunities and primary capital solutions for holders of alternative assets through its online platform, AltAccess [1][6]. - The company aims to democratize the global alternative asset investment market for mid-to-high net worth individuals and small-to-midsized institutions [6].
Beneficient Announces Agreement to Settle GWG Litigation