Claim your share of the $14.7M XPDI securities class action settlement – Claim Depot
Investors who held XPDI Class A stock and did not redeem it in January 2022 may be eligible to claim a payment from a class action settlement.
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Investors who held Power & Digital Infrastructure Acquisition Corp. Class A common stock as of Jan. 14, 2022, at 5 p.m. Eastern time and did not redeem their shares in connection with the merger with Core Scientific Inc. may be eligible to receive a cash payment from a class action settlement.
XPDI and named defendants agreed to pay $14.75 million to settle a class action lawsuit. The suit alleged that XPDI’s leaders breached their fiduciary duties regarding the merger with Core Scientific.
The settlement class includes investors who meet all of the following criteria:
The class also includes:
The total settlement fund is $14,750,000. Class members will receive payments based on several factors:
The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation.
Class members do not need to submit a claim form to receive a payment. The settlement administrator will distribute funds to class members. Individuals whose shares were held in a brokerage account will receive settlement payment into the same account.
For shares held in brokerage or nominee accounts, the settlement administrator will make payments through the Depository Trust Co. to the applicable broker or nominee.
The $14,750,000 settlement fund includes:
The settlement administrator will issue payments to eligible class members after the court resolves any appeals and grants final approval to the settlement.
The lawsuit alleged that XPDI’s directors, officers and controllers breached their fiduciary duties during the merger with Core Scientific Inc. The complaint claimed the proxy statement contained material misstatements and omissions about business prospects and stakeholder interests, depriving stockholders of the ability to make a fully informed decision.
XPDI and the named defendants deny all allegations of wrongdoing and liability but agreed to settle to avoid the risks, costs and delays of further litigation.
Find any open class action settlement.
Class actions settlements delivered to your inbox.
This browser does not support inline PDFs. Please download the PDF to view it: Download PDF
96% of settlement funds go unclaimed. Be part of the 4% by subscribing to the Claim Depot newsletter and never missing a settlement.
source
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
Class actions settlements delivered to your inbox.
Investors who held Power & Digital Infrastructure Acquisition Corp. Class A common stock as of Jan. 14, 2022, at 5 p.m. Eastern time and did not redeem their shares in connection with the merger with Core Scientific Inc. may be eligible to receive a cash payment from a class action settlement.
XPDI and named defendants agreed to pay $14.75 million to settle a class action lawsuit. The suit alleged that XPDI’s leaders breached their fiduciary duties regarding the merger with Core Scientific.
The settlement class includes investors who meet all of the following criteria:
The class also includes:
The total settlement fund is $14,750,000. Class members will receive payments based on several factors:
The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation.
Class members do not need to submit a claim form to receive a payment. The settlement administrator will distribute funds to class members. Individuals whose shares were held in a brokerage account will receive settlement payment into the same account.
For shares held in brokerage or nominee accounts, the settlement administrator will make payments through the Depository Trust Co. to the applicable broker or nominee.
The $14,750,000 settlement fund includes:
The settlement administrator will issue payments to eligible class members after the court resolves any appeals and grants final approval to the settlement.
The lawsuit alleged that XPDI’s directors, officers and controllers breached their fiduciary duties during the merger with Core Scientific Inc. The complaint claimed the proxy statement contained material misstatements and omissions about business prospects and stakeholder interests, depriving stockholders of the ability to make a fully informed decision.
XPDI and the named defendants deny all allegations of wrongdoing and liability but agreed to settle to avoid the risks, costs and delays of further litigation.
Find any open class action settlement.
Class actions settlements delivered to your inbox.
This browser does not support inline PDFs. Please download the PDF to view it: Download PDF
96% of settlement funds go unclaimed. Be part of the 4% by subscribing to the Claim Depot newsletter and never missing a settlement.
source
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
