Beneficient announces agreement to settle gwg litigation

Dallas, march 10, 2025 (globe newswire) -- beneficient (nasdaq: benf) (“beneficient,” “ben” or the “company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, altaccess, today announced that it has entered into a binding agreement to settle all claims in the previously disclosed lawsuits relating to gwg holdings, inc. (“gwg”) in federal court in the northern district of texas and the bankruptcy court for the southern district of texas (“gwg litigation”) against the company, its subsidiaries, and each of their current and former directors and officers, including its founder and ceo, brad heppner (collectively, the “beneficient parties”), for a sum within applicable insurance policy limits. the company and its directors and officers have vigorously contested and continue to contest the allegations in the gwg litigation, fundamentally challenging the underlying factual assertions and maintaining substantive and well-founded defenses.
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