Il Sole 24 ORE, shareholders approve partial settlement of the liability action

L’shareholders’ meeting de The sun 24 hoursa publishing group listed on Euronext Milan, has resolved to approve the partial settlement of the social responsibility action ex art. 2392 and 2393 cod. civ. promoted by the company against the former chairman of the board of directors Benito Benedini and the former managing director Donatella Treu. Excluding, however, the former editor-in-chief of the daily Roberto Napoletano.

In the face of various mutual commitments between the parties, the partial settlement agreement provides for the final payment and write-off in favor of the company of a total amount of 3,000,000 eurosof which 400,000 euros already paid to the company.

The structure of the partial settlement agreement takes into account the vote expressed by the shareholders at the shareholders’ meeting of 27 April 2022, and therefore the failure to approve the full settlement proposalas well as the events that occurred subsequently, and in particular of the condemnation of Napoletano with criminal sentence.

In essence, the partial transaction made it possible to settle the dispute between the company, on the one hand, and Treu, Benedini, KPMG and third-party companies on the other, obtaining a settlement amount substantially in line with the previous proposal, but excluding Napoletano towards of which the civil judgment continues “in relation to commercial and reporting practices aimed at artificially increasing the data relating to dissemination of the newspaper “.