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If you purchased IronNet, Inc. securities on the open market in the United States between September 14, 2021 and December 15, 2021, you may qualify to claim a cash benefit from a class action settlement.
IronNet, Inc. has agreed to pay $6,625,000 to resolve a class action lawsuit alleging that the company and certain executives violated federal securities laws by making false or misleading statements and omissions. This settlement is agreed upon to compensate certain investors who may have suffered financial losses during the specified period.
Who is eligible to submit for a settlement payout?
Class members must meet the following criteria:
Individuals and entities who purchased IronNet, Inc. securities (common stock, warrants, or options) on the open market on a U.S. stock exchange between September 14, 2021 and December 15, 2021, inclusive.
It is important to note that if your mutual fund purchased IronNet securities, you are not a class member unless you personally made qualifying purchases. To determine your eligibility, review your investment records or contact your broker to confirm your transactions during the class period.
Are there any exclusions?
If your mutual fund purchased IronNet securities, you are not a class member unless you personally made qualifying purchases.
How much is the class action payment?
Pro Rata Cash Payment: Estimated recover is about $0.16 per share after deductions for attorneys’ fees and expenses. Final payment amount will be determined by the following:
- The number of valid claims submitted
- The timing, type, and quantity of your securities purchased and sold during the class period
How to claim a securities class action rebate
To receive a settlement payout, class members must submit a valid claim form by the deadline of July 23, 2025. You can file a claim online or download and print the PDF claim form to mail to the settlement administrator.
Settlement Administrator's mailing address: IronNet, Inc. Securities Litigation c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063
The claims administrator will acknowledge receipt of your claim within 60 days of submission.
Is proof required to submit a class action settlement claim?
Yes, claimants must provide supporting documentation. This should include:
- Copies of broker confirmations, monthly account statements, or an authorized statement from your broker showing your transactions in IronNet securities during the class period.
- Documentation for all purchases, sales, and holdings of IronNet common stock, warrants, and options during the relevant periods.
Payout options
Payments will be made to approved claimants in the form of a paper check mailed to the address provided on the claim form.
$6.63 million securities settlement fund breakdown
Breakdown of the class action settlement fund:
- Attorneys' fees: Up to $2,186,250
- Attorneys' expenses: Up to $500,000
- Settlement administration costs: Up to $500,000
- Payments to approved claimants: Remaining settlement fund after all deductions
Important dates
- Exclusion deadline: July 9, 2025
- Deadline to file a claim: July 23, 2025
- Settlement hearing (fairness hearing): July 30, 2025
When is the IronNet, Inc. securities settlement payment date?
Payments to class members will be made after the court grants final approval of the settlement and any appeals are resolved. The final hearing will take place on July 30, 2025.
Why is there a class action settlement?
This class action lawsuit was brought against IronNet, Inc. and certain executives for allegedly making false or misleading statements and omissions in violation of federal securities laws. Plaintiffs claimed these actions artificially inflated the price of IronNet securities, causing investors to suffer losses when corrective information was released.
The defendant's agreed to settle to avoid the uncertainty of continued litigation, considering IronNet’s bankruptcy proceedings.
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