CarLotz $25.5M Securities Class Action Settlement

If you purchased or acquired CarLotz, Inc. (ticker symbol “LOTZ”) or Acamar Partners Acquisition Corp. (ticker symbol “ACAM”) common stock between October 22, 2020, and May 26, 2021, you may qualify to submit a claim for a class action settlement.

CarLotz, Inc. has agreed to pay $25,500,000 to settle a class action lawsuit for alleged misleading statements and omissions regarding its business operations and financial condition [1].

Who is eligible for a settlement payout?

• You purchased CarLotz, Inc. common stock (ticker symbol “LOTZ”) between January 22, 2021, and May 26, 2021.
• You purchased Acamar Partners Acquisition Corp. common stock (ticker symbol “ACAM”) between October 22, 2020, and May 26, 2021.

What is the CarLotz securities settlement payment?

Payout amount each class member receives will be determined the number of valid claims filed and the total number of shares purchased.

How to claim a payout

To claim an award, class members must complete and submit a claim form by May 2, 2025. You can file a claim online or download the PDF claim form and print and mail to the settlement administrator.

Settlement Administrator's mailing address: CarLotz Securities Litigation, c/o Epiq Class Action & Claims Solutions, Inc., P.O. Box 2109, Portland, OR 97208-2109.

Required documentation

Yes, claimants need to provide proof with their claim submission which should include stockbroker confirmation slips, statements, or other documents evidencing each purchase, sale, or retention of stock during the class period.

Payout options

• Payments will be made by check mailed to the address provided on the claim form

$25.5 Million settlement fund

The settlement fund of $25.5 million breakdown is as follows:

• Settlement administration costs: To be determined
• Attorneys' fees and expenses: Up to $8,690,000
• Service awards to the two Lead Plaintiffs: Up to $15,000 collectively
• Payments to approved claimants

Important dates

• Fairness Hearing: June 10, 2025
• Deadline to File a Claim: May 2, 2025

When is the CarLotz Securities Litigation payout date?

The court will hold a fairness hearing on June 10, 2025, to decide whether to approve the settlement. If approved, the claims will be processed, and payments will be distributed.

Why is there a class action settlement?

The lawsuit alleged that CarLotz, Inc. and Acamar Partners Acquisition Corp. made misleading statements and omissions regarding its business operations and financial condition, which affected the stock prices. The settlement resolves these allegations without admitting any wrongdoing by the defendants [1].

Sources

1] [Official Settlement Website