NOTICE OF SETTLEMENT: Please be advised that: (i) Plaintiffs Barbara Rhodes, Zachary BeHage, and Benjamin Rowe (collectively, “Lead Plaintiffs”) and Michelle Brown and Crisanto Gomez (“Additional Plaintiffs” and together with Lead Plaintiffs, “Plaintiffs”), individually and on behalf of the Settlement Class (defined in Paragraph 23 of the Notice); (ii) defendants Stephen Girsky, Robert Gendelman, Sarah W. Hallac, Richard J. Lynch, and Victoria McInnis and former defendant Steven M. Shindler (collectively, “VectoIQ Defendants,” and together with Plaintiffs, the “Parties” and each a “Party”) have reached a proposed settlement for $6,300,000 in cash (the “Settlement Amount”) as set forth in the Stipulation (the “Settlement”). The Settlement, if approved, will resolve all claims in the Action.
PLEASE READ THE NOTICE CAREFULLY AND IN ITS ENTIRETY. The Notice explains how Settlement Class Members will be affected by the Settlement. The following table provides a brief summary of the rights you have as a Settlement Class Member and the relevant deadlines, which are described in more detail in the Notice.
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RECEIVE A PAYMENT FROM THE SETTLEMENT. SETTLEMENT CLASS MEMBERS DO NOT NEED TO SUBMIT A CLAIM FORM. |
If you are a member of the Settlement Class (defined in Paragraph 23 of the Notice), you may be eligible to receive a pro rata distribution from the Settlement proceeds. Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court. Your distribution from the Settlement will be paid to you directly. See Paragraphs 32-36 of the Notice for further information. |
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OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 6, 2025. |
If you are a member of the Settlement Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, Class Counsel’s request for a Fee and Expense Award, or Lead Plaintiffs’ request for Incentive Fees, you may write to the Court and explain the reasons for your objection. |
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ATTEND A HEARING ON NOVEMBER 20, 2025 AT 3:15 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 6, 2025. |
Filing a written objection and notice of intention to appear that is received by November 6, 2025 allows you to speak in Court, at the discretion of the Court, about your objection. In the Court’s discretion, the November 20, 2025 hearing may be conducted by telephone or videoconference (see Paragraphs 42-44 of the Notice for more information). If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
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