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EMBK.US
id: 729

Embark Technology (EMBK) $2.5M Shareholder Settlement

N.D. California
Court
3:22-cv-02090
Case number
02 Jul 2021
Class period Start
10 Nov 2021
Class period End
22 Dec 2023
Claim deadline
Embark Technology (EMBK) agreed to settle $2.5 million with shareholders to end claims over the merger with Northern Genesis.

Those who:
  1. purchased or otherwise acquired Embark common stock pursuant or traceable to the July 2, 2021 registration statement, including all amendments thereto, issued in connection with the Business Combination between Northern Genesis and the privately held Embark Trucks Inc. completed on or about November 10, 2021, and were damaged; and/or
  2. beneficially owned and/or held Northern Genesis common stock as of October 6, 2021, the record date, and were eligible to vote at Northern Genesis’ November 9, 2021, special meeting with respect to the Business Combination, and were damaged,
maybe entitled to a payout.
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Filing date
01 April 2022
Plaintiffs
Tyler Hardy
Attorneys
Pomerantz LLP (New York, NY)
Defendants
Ian Robertson, Ken Manget, Christopher Jarratt, Paul Dalglish, Robert Schaefer, Brad Sparkes, Alex Rodrigues, Richard Hawwa
Judge
Hon. Jacqueline Scott Corley
Administrator
Strategic Claims Services
Settlement agreement date
2023-05-17
Court hearing date
08 February 2024
Exclusion deadline
22 December 2023
Objection deadline
22 December 2023
Hearing deadline
22 December 2023
Trades matching type
FIFO
+$2,500,000
Cash Settlement Amount

Embark Technology Inc

Embark Technology, Inc. develops autonomous driving software solutions for the truck freight industry in the United States. Its solutions include Embark Driver, an automated driving system software...

    Ticker
    EMBK.US
    ISIN
    US29079J1034
    CIK
    1827980
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    424 Townsend Street, San Francisco, CA, United States, 94107