- CreateAI Holdings Inc. (TSPH, Financial) proposes a $42.5 million settlement for shareholder derivative actions.
- The Settlement Fairness Hearing is set for July 9, 2025.
- Shareholders can object to the settlement by June 18, 2025.
CreateAI Holdings Inc. (OTCMKTS: TSPH), previously known as TuSimple Holdings, has announced a proposed settlement for ongoing shareholder derivative actions in the courts of California and Delaware. The settlement involves a $42.5 million cash payment to be deposited into an escrow account. After deductions for attorneys' fees, expenses, and taxes, the remaining amount will be transferred to the company.
The proposed settlement acknowledges the actions' role in amending the Cooperation Agreement with Mo Chen and confirms the binding Mutual Confidentiality Agreement between TuSimple and Hydron. A Settlement Fairness Hearing is scheduled for July 9, 2025, where the court will assess the fairness of the settlement and consider attorneys' fees.
Stockholders holding shares as of July 9, 2025, can object to the settlement by June 18, 2025. As this is a derivative action, the cash recovery is intended to benefit the company directly, with no direct payments made to individual stockholders.
