What is this Settlement about?
This website relates to a class action lawsuit (the “Action”) pending in the Court of Chancery of the State of Delaware (the “Court”) brought between the (i) Plaintiff Sean Murray (the “Plaintiff”), on behalf of himself and the Class, and (ii) Defendants Joseph Moglia, Kyle Cerminara, Larry Swets, Jr., Nicholas Rudd, Robert Weeks, Hassan Baqar, FG New America Investors, LLC (the “FGNA Defendants”), Jared Kaplan, Theodore Schwartz, Todd Schwartz, Schwartz Capital Group (the “OppFi Defendants”), and ThinkEquity LLC (“ThinkEquity” and, collectively with the FGNA Defendants and the OppFi Defendants, the “Defendants”) (together with Plaintiff, the “Parties,” and each a “Party”). The Parties have reached a proposed settlement for $13,000,000.00 in cash (the “Settlement Amount”) as set forth in the Stipulation (the “Settlement”). The Settlement, if approved, will resolve all claims in the Action.
Defendants deny all claims and allegations of wrongdoing alleged in the Settlement.
Who is included?
If you are a member of the Class, you are subject to the Settlement. The Class is preliminarily certified by the Court solely for purposes of the Settlement, consisting of:
All record and beneficial holders of FGNA Class A Common Stock who held such stock as of July 14, 2021, at 5:00 PM ET, the Redemption Deadline, and who elected not to redeem all or some of their FGNA Class A Common Stock, including their successors in interest who obtained shares by operation of law.
Who is excluded?
Excluded from the Settlement Class are: (i) Defendants; (ii) members of the immediate family of any individual defendant; (iii) any parent, subsidiary, or affiliate of any entity Defendant; (iv) any entity in which any Defendant or any other Excluded Person, or group of Excluded Persons, has, or had on the Redemption Deadline a controlling interest; and (v) the legal representatives, agents, affiliates, heirs, estates, successors, or assigns of any such Excluded Persons.
Please note: the Class is a non “opt-out” class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Class.
How do I obtain more information?
Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Settlement Administrator.
Settlement Administrator
FGNA Stockholder Settlement c/o JND Legal Administration PO Box 91176 Seattle, WA 98111
