Beneficient Announces U.S. District Court Approval Of Settlement Resolving All GWG-Related Claims Against The Company, Subsidiaries, And Current And Former Directors And Officers

Beneficient (NASDAQ:BENF), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets, today announced that the United States District Court for the Northern District of Texas (the "District Court") has approved the previously disclosed settlement agreement resolving all claims pending in the District Court under the previously disclosed lawsuits relating to GWG Holdings, Inc. ("GWG") against the Company, its subsidiaries, and each of their current and former directors and officers (the "Beneficient Parties").

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 (such litigation, the "GWG Litigation") 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.