On April 17, 2024, the United States District Court for the District of Nevada granted final approval of the settlement of the previously disclosed federal securities class action lawsuit entitled In re Paysign, Inc. Securities Litigation, which had been brought against Paysign, Inc. (the "Company") and certain of its current or former directors and officers. As previously described in the Company's Annual Report on Form 10-K filed on March 27, 2024, under the settlement, all claims against the Company and the individual defendants have been dismissed with prejudice, in exchange for payment to the referenced class of purchasers in the amount of $3,750,000, the entirety of which is being paid from proceeds of the Company's directors-and-officers insurance policy.
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Paysign, Inc. is a vertically integrated provider of prepaid card products and processing services for corporate, consumer and government applications. The Companyâs payment solutions are utilized by its corporate customers as a means to increase customer loyalty, increase patient adherence rates, reduce administration costs and streamline operations. Public sector organizations can utilize its payment solutions to disburse public benefits or for internal payments. It markets its prepaid card solutions under its Paysign brand. It operates on a payments platform with cutting-edge fintech capabilities that can be seamlessly integrated with its clientsâ systems. This distinctive positioning allows it to provide end-to-end technologies that securely manage transaction processing, cardholder enrollment, value loading, account management, data and analytics, and customer service. Its suite of product offerings includes solutions for corporate rewards, prepaid gift cards and others.
PAYSIGN, INC. 
