SCWorx Corp

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Litigation, Regulatory, Earnings Announcements

Scworx Completes Settlement Of Previously Disclosed SEC Matter

Published: 06/06/2022 17:42 GMT
SCWorx Corp (WORX) - Scworx Completes Settlement of Previously Disclosed Sec Matter.
Scworx - Has Agreed to Settlement, Which Has Received Final Court Approval, That Includes Permanent Injunctions, Payment of $125,000 Penalty.
Scworx Corp- Has Agreed to Disgorgement of $471,000 With Prejudgment Interest of $32,761.56.
Scworx - Expected to Satisfy Obligation to Pay Disgorgement and Prejudgment Interest by Contributing Stock, Valued at $600,000 at Time of Issuance.
Scworx Corp- Recorded an Accrual for Full Amount of This Penalty in Q1 of 2022, Which Was Reflected in 10-q Financial Results.