BigBear.ai Stockholders SPAC $2.5 Million Settlement

If you were a public stockholder of BigBear.ai Holdings, Inc., formerly known as GigCapital 4, Inc., between October 5, 2021, and December 7, 2021, you may be eligible to claim a portion of a $2,500,000 award from a class action settlement.

BigBear.ai Holdings, Inc. has agreed to pay this amount to settle a class action lawsuit due to alleged breaches of fiduciary duties and unjust enrichment related to mergers.

Who Are the Class Members?

To be considered a class member eligible for compensation, you must meet the following criteria:

• You held BigBear.ai Holdings, Inc. common stock between October 5, 2021, and December 7, 2021.
• You must have owned shares immediately after the redemption deadline on December 1, 2021, at 5:00 pm EST.
• Your shares must not have been submitted for redemption in connection with the mergers.

The class does not include:

• Stockholders who redeemed 100% of their shares.
• Holders who did not have redemption rights, such as certain investment funds and specific individuals and entities related to the defendants.

How Much Can Class Members Get?

Class members are eligible for a pro rata distribution from the net settlement fund. This fund is the settlement amount minus taxes, administration costs, and any awarded fees and expenses.

Here's how it works:

• Net Settlement Fund Calculation: If the net settlement fund is $2,000,000 and there are 1,000,000 eligible shares, each share would receive $2.
• Pro Rata Distribution: Your payment is calculated based on the number of eligible shares you held. For example, if you held 500 shares, your payment would be 500 times the per-share amount.

No Action Needed to Receive Compensation

Class members do not need to take any action to receive their compensation. Payments will be distributed directly to eligible class members based on the information already available to the settlement administrator.

Payment Methods

Payments will be made directly to the accounts where the shares were held. If shares were held in 'street name' in a brokerage account, the broker will deposit the settlement payment into the same account.

$2,500,000 Settlement Fund Breakdown

The settlement fund of $2,500,000 will cover the payments to eligible class members, administration costs, and any awarded fees and expenses.

• Administration Costs: Deducted from the settlement fund.
• Fee and Expense Award: Plaintiff's counsel will seek up to $450,000.
• Net Settlement Fund: Remaining amount after deductions.

What Happens Next?

The court will hold a fairness hearing on October 8, 2024, to decide whether to approve the settlement. If approved, payments will be distributed to eligible class members.

When is the BigBear.ai Holdings Settlement Payout Date?

Awards will be paid after the court grants final approval and any appeals are resolved.

Why is There a Class Action Settlement?

The lawsuit alleged that the defendants breached fiduciary duties and were unjustly enriched in connection with the mergers. The settlement allows the parties to resolve the claims without admitting wrongdoing.