Palantir, Stockholders Settle Dispute Over 'Magical' Stock

By Jeff Montgomery (May 16, 2022, 3:20 PM EDT) -- Investors in software and analytics company Palantir Technologies Inc. have agreed to settle a Delaware Chancery Court class suit accusing the company's founders of deploying variable voting-power stock to control the business in a deal that includes a $5.5 million fee for class attorneys.

The settlement, filed with the court on Friday and still subject to court approval and notice to stockholders, calls for bylaw and charter changes to add oversight and voting rules for some transactions involving founding members and Class F shares. Some provisions call for independent committee review.

Targeted in the stockholder complaint, filed in March 2021, were...

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