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loanDepot (LDI) announces settlement and cooperation agreement with Anthony Hsieh

Key Summary: Between February and April 2023, Anthony Hsieh, founder and 68.9% voting stockholder of loanDepot, nominated Steve Ozonian to the Board, corrected company statements, stepped down as Executive Chairman, and filed proxy materials advocating for long-term success and his nominee. On April 4, loanDepot and Hsieh reached a settlement to add Ozonian to the Board and agreed on future Board composition changes.
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