The Lovesac Company $615k Securities Settlement

If you purchased or acquired common stock of The Lovesac Company between June 8, 2022, and August 16, 2023, you may be eligible to claim compensation from a class action settlement.

The Lovesac Company has agreed to pay $615,000 to settle a class action lawsuit for allegedly making false and misleading statements about its financial condition and accounting practices.

Who can file a claim?

To be considered a class member eligible to file a claim, you must meet the following criteria:

• Purchased or otherwise acquired Lovesac common stock during the period from June 8, 2022, through August 16, 2023.
• Held the stock through the close of trading on August 16, 2023.

How much can class members get?

The estimated average recovery per affected share is $0.09 before deductions for fees and expenses. After deductions, the average recovery is approximately $0.05 per share. The actual amount received by each class member will depend on several factors, including the number of valid claims submitted and the total number of shares purchased during the Class Period.

• Initial Distribution: Class members will receive a pro rata share of the Net Settlement Amount based on their Recognized Claim.
• Subsequent Distributions: If funds remain after the initial distribution, additional distributions may occur if cost-effective.

For example, if a class member purchased 1,000 shares and the total Recognized Claims amount to 100,000 shares, their share of the Net Settlement Amount would be 1% of the total fund.

Is proof required to submit a claim?

Yes, claimants must provide documentation to support their claim. This includes:

• Brokerage confirmation slips or monthly account statements showing transactions and holdings of Lovesac stock.

How to claim an award

To claim an award, you must submit a Claim Form either online or by mail. You can file a claim online or mail a completed paper form to:

_Lovesac Securities Litigation_

c/o Strategic Claims Services

600 North Jackson Street

Suite 205

Media, PA 19063

Ensure your claim is submitted electronically by 11:59 p.m. ET on November 8, 2024, or postmarked by the same date if mailed.

Payment methods

Class members will receive their payments via check mailed to the address provided in the claim form.

$615,000 Settlement Fund

• Payments to eligible class members.
• Attorneys' fees not exceeding 33 1/3% of the fund.
• Litigation expenses up to $45,000.
• Lead Plaintiff's expenses up to $3,500.

Important dates

• Fairness Hearing: December 9, 2024
• Deadline to File a Claim: November 8, 2024

When is the Lovesac Securities Litigation payout date?

Payments to eligible class members will be made after the court approves the settlement and any appeals are resolved.

Why is there a class action settlement?

The Lovesac Company was accused of making false and misleading statements about its financial condition and accounting practices. The settlement was reached to avoid the uncertainty and expense of further litigation.

What happens next?

The court will hold a Fairness Hearing on December 9, 2024, to decide whether to approve the settlement. If approved, claims will be processed, and payments will be distributed to eligible class members.