Standard BioTools, Inc. has announced a significant payment of $890,000.00 to Plaintiffs' counsel, resolving a Mootness Fee Application. This payment comes after the company reached an agreement with the Defendants to avoid the cost and litigation risk associated with opposing Plaintiffs' Mootness Fee Application.
The payment of $890,000.00 is substantial and is being made within five business days of the entry of the Order. This payment fully satisfies and resolves Plaintiffs' Mootness Fee Application, and Plaintiffs' counsel has agreed not to seek any additional fees, expenses, or costs relating to this application.
The stipulation and order require Standard BioTools, Inc. to attach the Order as an exhibit to a Form 8-K, which will be filed with the United States Securities and Exchange Commission. This filing serves as adequate notice for stockholders regarding the payment of attorneys' fees and expenses in circumstances where the underlying claims are dismissed as moot.
As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $2.0. For more information, read the company's full 8-K submission here.
