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 Plaintiffs Sonal Singh, Saheem Kundapur, and Josh Wortman (the “Plaintiffs”), on behalf themselves and the Class, and Defendants Kenneth Moelis, Michael Spellacy, Emanuel Pearlman, David Fox, and Eileen Murray (the “Settling Defendants”) (together with Plaintiffs, the “Settling Parties,” and each a “Settling Party”). The Settling Parties have reached a proposed settlement for $15,000,000.00 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 Atlas Crest Class A Common Stock, who held such stock as of the Redemption Deadline (September 10, 2021), and who elected not to redeem all or some of their shares of Atlas Crest 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 entity in which any Defendant or any other Excluded Person, or group of Excluded Persons, has, or had as of the Closing, a controlling interest; and (iv) the legal representatives, agents, 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 Important Documents at the top of this page. Additional information can also be obtained by contacting the Settlement Administrator.
