NEW YORK, July 22, 2024 (GLOBE NEWSWIRE) -- TO: All persons or entities who owned Class A common stock of VPC Impact Acquisition Holdings II as of March 21, 2023 and had their shares redeemed (the “Settlement Class”):
YOU ARE HEREBY NOTIFIED, pursuant to Rules 23 and 23.1 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York (the “Court”), that the ATG Fund II LLC v. VPC Impact Acquisition Holdings Sponsor II, LLC, et al, Civil Action No. 23-1978-JSR putative derivative and class action (the “Action”) is pending in the Court.
YOU ARE ALSO NOTIFIED that Lead Plaintiff, ATG Fund II LLC, in the Action, on behalf of itself and the Settlement Class, has reached a proposed settlement of the Action for $7,000,000 in cash (the “Settlement”). If approved, the Settlement will resolve all claims in the Action.
A hearing will be held on September 26, 2024, at 4:00 p.m., before the Honorable Jed S. Rakoff, either in person at the United States District Court for the Southern District of New York, Courtroom 14B of the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, New York 10007-1312, or by telephone or videoconference (in the discretion of the Court), to determine, among other things: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiff, along with Funicular Funds LP, and Camac Fund LP, should be certified as Class Representatives for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (iii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated as of June 12, 2024 (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; (v) whether Lead Counsel’s motion for an award of attorneys’ fees and expenses, and Lead Plaintiff’s request for an incentive award, should be approved; and (vi) any other matters that may properly be brought before the Court in connection with the Settlement.
If you are a member of the Settlement Class, your rights may be affected by the pending Action and the Settlement. More information can be found at www.vihiisettlement.com.
If you are a member of the Settlement Class, you have the right to object to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees, incentive award and litigation expenses. Any objections must be filed with the Court and delivered to Lead Counsel and counsel specified in the Notice such that they are received no later than September 5, 2024, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Office of the Clerk of the Court, Defendants, or Defendants’ Counsel regarding this notice. All questions about this Notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel for the Settlement Class:
Morris Kandinov LLP
Aaron T. Morris, Esq.
305 Broadway, 7th Floor
New York, NY 10007
aaron@moka.law
(332) 240-4024
