TuSimple $189M Securities Settlement: Dates & Payouts

If you purchased or acquired TuSimple securities between April 15, 2021, and December 20, 2022, you may be eligible to claim compensation from a class action settlement.

TuSimple Holdings, Inc. has agreed to pay $189 million to settle a class action lawsuit for alleged violations of federal securities laws, including making false statements and omissions of material facts.

Who can file a claim?

To be a member of the Settlement Class, you must have purchased or acquired TuSimple securities between April 15, 2021, and December 20, 2022.

How much can class members get?

The settlement fund of $189 million will be distributed among eligible claimants. The average distribution per share is approximately $0.62 before deductions. The actual amount received will depend on the total number of valid claims submitted.

• Common Stock: Recognized Loss Amounts are calculated based on the difference in artificial inflation at purchase and sale.
• Options: Calculations vary based on whether the option was a call or put and the timing of transactions.

The award amount is subject to a net settlement fund calculation, which includes deductions for attorneys' fees, expenses, and other costs. For example, if the net settlement fund is $140 million after deductions, and the total recognized claims amount to $200 million, each claimant would receive 70% of their recognized claim.

How to claim an award

To claim an award, you must submit a Proof of Claim by January 31, 2025. You can file a claim online or download the claim form PDF and mail it to:

TuSimple Securities Settlement Claims Administrator

c/o Verita Global

P.O. Box 301135

Los Angeles, CA 90030-1135

Claimants must provide documentation to support their transactions in TuSimple securities. This includes broker confirmations or other transaction documentation.

Claim instructions

1. Obtain the Proof of Claim form online or by mail.
2. Complete the form with accurate information about your transactions.
3. Attach required documentation, such as broker confirmations.
4. Submit the form online or by mail before the deadline.

Payment methods

Payments will be made via check or electronic transfer, depending on the claimant's preference.

Settlement fund expenses

• Attorneys' fees not to exceed 25% of the settlement amount
• Litigation expenses up to $300,000
• Settlement administration costs TBD

Important dates

• Deadline to File a Claim: January 31, 2025
• Fairness Hearing: December 2, 2024

When is the TuSimple Securities Settlement payout date?

After the Fairness Hearing on December 2, 2024, the court will decide whether to approve the settlement. If approved, claims will be processed, and payments will be distributed.

Why is there a class action settlement?

The lawsuit alleged that TuSimple made false statements and omitted material facts, affecting the trading prices of its securities. The settlement avoids the costs and risks of further litigation.