A stockholder has objected to another investor's bid for $850,000 in attorney fees in connection with a proposed settlement to end a derivative suit in Delaware Chancery Court over an allegedly unfair private offering that raised $70 million for Selecta Biosciences, arguing that his counsel should also get fees.
Twitter Announces Proposed Settlement of Shareholder Derivative Lawsuits
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SAN FRANCISCO, Jan. 25, 2021 /PRNewswire/ Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a binding agreement to settle the shareholder derivative lawsuits pending in the Court of Chancery of the State of Delaware (the Court ) and the United States District Court for the District of Delaware against the Company and certain current and former directors and officers. The proposed settlement resolves all claims asserted against Twitter and the other named defendants in the derivative lawsuits without any liability or wrongdoing attributed to them personally or the Company.