Beneficient announced that the United States District Court for the Northern District of Texas has approved the previously disclosed settlement agreement resolving all claims pending in the District Court under the previously disclosed lawsuits relating to GWG Holdings, GWG, against the Company, its subsidiaries, and each of their current and former directors and officers. As previously announced, the Company entered into a binding settlement agreement to resolve all GWG-related claims brought in the District Court and the United States Bankruptcy Court for the Southern District of Texas for a sum within applicable insurance policy limits. As a result of this approval, all the GWG Litigation against the Beneficient Parties will be fully and finally resolved in accordance with the terms of the settlement agreement. The settlement resolves all such claims against the Beneficient Parties without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant.
Beneficient is a technology-enabled financial services holding company that provides liquidity, primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess. The AltAccess platform provides end-to-end liquidity, custody, and investment analytics solutions through AltQuote, AltLiquidity, AltCustody, AltData, and AltTrading. The Company's segments include Ben Liquidity, Ben Custody, and Customer ExAlt Trusts. The Ben Liquidity segment is responsible for offering its fiduciary alternative asset liquidity and financing products through AltAccess. The Ben Custody segment delivers products that address the administrative and regulatory burden of holding alternative assets by offering full service bespoke custody and trust administration services, and specialized document custodian services to customers. The Customer ExAlt Trusts segment holds interests in alternative assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
