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Investing.com -- Ryvyl Inc (NASDAQ:RVYL) stock rose 5.8% in after-hours trading Friday following a court’s provisional approval of a settlement in a shareholder derivative lawsuit.
The digital payment processing company announced that District Judge Gonzalo P. Curiel in the Southern District of California issued an order granting provisional approval of a derivative settlement on November 14, 2025. The settlement resolves litigation filed in June 2023 against certain current and former officers and directors of the company, as well as related derivative litigation pending in Nevada.
The lawsuit, "Christy Hertel, derivatively on behalf of RYVYL Inc., f/k/a GreenBox POS v. Ben Errez et. al., Case No. 3:23-CV-01165-GPC-SBC," was conditionally approved with a final settlement hearing date to be determined.
Ryvyl, which trades on the Nasdaq under the ticker RVYL, operates a digital payment processing business focused on enabling transactions globally and providing payment solutions for underserved markets. The company has developed applications for financial products with enhanced security features, identity theft protection, and rapid settlement capabilities.
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