Katapult FinServ $2.5 Million Securities Settlement

If you purchased or acquired Katapult securities between June 15, 2021, and August 9, 2021, or held FinServ common stock as of May 11, 2021, you may be eligible to claim from a class action settlement.

Katapult Holdings, Inc. has agreed to pay $2,500,000 to settle a class action lawsuit for allegedly making false and misleading statements about its financial prospects.

Who can file a claim?

To be eligible for the settlement, you must meet the following criteria:

• Purchased or acquired Katapult securities between June 15, 2021, and August 9, 2021.
• Held FinServ common stock as of May 11, 2021, and were eligible to vote at FinServ's June 7, 2021, special meeting.

How much can class members get?

The exact amount each class member will receive depends on the number of valid claims submitted and the net settlement fund after deductions for taxes, fees, and expenses.

• Common Stock Purchasers: Awards will be calculated based on the number of shares purchased and the timing of transactions.
• Warrant Holders: Awards will be similarly calculated based on the number of warrants and transaction dates.

The distribution is subject to a pro-rata calculation, meaning each class member will receive a share of the settlement fund proportional to their recognized loss. For example, if the net settlement fund is $2,000,000 and the total recognized claims amount to $20,000,000, a claimant with a recognized loss of $10,000 would receive $1,000.

What documentation is required to submit a claim?

• Brokerage confirmation slips or monthly account statements.
• Authorized statements from brokers containing transactional and holding information.

How to file a claim

To claim an award, you must submit a claim form. You can file a claim online or mail your completed form to:

Katapult Securities Litigation

c/o JND Legal Administration

PO Box 91340

Seattle, WA 98111

Ensure your claim is postmarked or submitted online by December 19, 2024.

Payment methods

• Check mailed to the address provided in the claim form.
• Direct deposit if bank details are provided.

Important dates

• Fairness Hearing: December 13, 2024
• Deadline to File a Claim: December 19, 2024

When is the Katapult Securities Litigation payout date?

Payments will be made after the court grants final approval and all claims have been processed after the December 13, 2024 hearing.

Why is there a class action settlement?

The lawsuit alleges that Katapult made false statements about its financial prospects, misleading investors. The settlement was reached to avoid the uncertainties and costs of continued litigation.

What happens next?

After the fairness hearing on December 13, 2024, the court will decide whether to approve the settlement. If approved, claims will be processed, and payments will be distributed.