Strong Global Entertainment, Inc. (NYSE American:SGE), a company specializing in photographic equipment and supplies, has reached a settlement agreement related to a civil complaint concerning its television series "Safehaven." The settlement, which was finalized on Thursday, will not materially affect the company's consolidated financial statements, as disclosed in a recent SEC filing.
The legal action, involving various affiliated entities and some current and former employees, officers, and directors of Strong Global Entertainment, was connected to the production of the series. With the settlement and subsequent dismissal of the complaint, the company has maintained its position in the profit-sharing structure, which could lead to future economic benefits depending on the success of "Safehaven."
Strong Global Entertainment, headquartered in Mooresville, NC, has confirmed that the settlement terms will not have a significant financial impact, indicating the company's ability to move forward without any major financial repercussions from this legal matter.
The details of the settlement were furnished to the Securities and Exchange Commission and are not considered "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor will they be incorporated by reference into any future filings under the Securities Act of 1933 or the Exchange Act, except as explicitly stated in such filings.
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