EMBK.US
id: 729
Embark Technology (EMBK) $2.5M Shareholder Settlement
N.D. California
Court3:22-cv-02090
Case number02 Jul 2021
Class period Start10 Nov 2021
Class period End22 Dec 2023
Claim deadlineEmbark Technology (EMBK) agreed to settle $2.5 million with shareholders to end claims over the merger with Northern Genesis.
Those who:
- 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
- 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
Disbursement
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