SCWorx, Shareholders Reach Deal in Covid Test Derivative Suits

SCWorx Corp. and shareholders who say its leadership misled them about a coronavirus antibody test kit order early in the pandemic may move forward with a settlement to end two derivative suits, a federal judge in New York said.

The deal includes corporate governance reforms that the health logistics firm promises to implement for at least five years, the shareholders behind the federal derivative suit said in February in the U.S. District Court for the Southern District of New York. The settlement, which received Judge John G. Koeltl’s preliminary approval March 25, also resolves a similar suit in state court. ...