Grant & Eisenhofer P.A. Announces Notice of Pendency and Proposed Class Action for All Record and Beneficial Holders of FAC Class A Common Stock Who Held Such Stock as of the Redemption Deadline of September 17, 2021 and Who Elected Not to Redeem All or Some of Their Stock

WILMINGTON, Del., June 16, 2025 /PRNewswire/ -- 

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED 
SETTLEMENT OF CLASS ACTION,
SETTLEMENT HEARING, AND RIGHT TO APPEAR

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS SUMMARY NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Court of Chancery of the State of Delaware (the "Court") and Rule 23 of the Delaware Rules of Civil Procedure, that: (i) the above-captioned action pending in the Court (the "Action") has been preliminarily certified as a class action on behalf of the Class; and (ii) Plaintiffs and Defendants have reached a proposed settlement for $12,750,000.00 in cash (the "Settlement Amount") as set forth in the Stipulation (the "Settlement"), a copy of which is available at www.MoneyLionStockholderSettlement.com.   The Settlement, if approved by the Court, will resolve all claims in the Action.

To maximize your recovery as a member of the Class based on your claims in the Action, you must complete and submit the Proof of Claim and Release Form attached to the long-form notice or available at www.MoneyLionStockholderSettlement.com  by September 2, 2025, either online at www.MoneyLionStockholderSettlement.com or by printing the form and submitting it as set forth therein. If you fail to submit a timely and properly addressed Proof of Claim and Release, your claim will be limited to a base distribution in the amount of $0.10 per Eligible Share.

A hearing (the "Settlement Hearing") will be held on July 24, 2025, at 11:00 a.m., before The Honorable Nathan A. Cook, Vice Chancellor.  The Settlement Hearing will be held either in person at the Court of Chancery of the State of Delaware, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, Delaware 19801, or remotely by telephone or videoconference (in the discretion of the Court).  The purpose of the Settlement Hearing is, among other things, to: (i) determine whether to finally certify the Class for settlement purposes only, pursuant to Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2); (ii) determine whether Plaintiffs and Plaintiffs' Counsel have adequately represented the Class, and whether Plaintiffs should be finally appointed as Class representatives for the Class and Plaintiffs' Counsel should be finally appointed as Class counsel for the Class; (iii) determine whether the proposed Settlement should be approved as fair, reasonable, and adequate to the Class and in the best interests of the Class; (iv) determine whether the Action should be dismissed with prejudice and the Releases provided under the Stipulation should be granted; (v) determine whether the Order and Final Judgment approving the Settlement should be entered; (vi) determine whether the proposed Plan of Allocation of the Net Settlement Fund is fair and reasonable, and should therefore be approved; (vii) determine whether and in what amount any Fee and Expense Award should be paid to Plaintiffs' Counsel out of the Settlement Fund; (viii) determine whether and in what amount any service award should be paid to Plaintiffs out of the Fee and Expense Award; (ix) hear and rule on any objections to the Settlement, the proposed Plan of Allocation, and/or Plaintiffs' Counsel's application for a Fee and Expense Award; and (x) consider any other matters that may properly be brought before the Court in connection with the Settlement. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the Settlement website, www.MoneyLionStockholderSettlement.com.  

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement and you may be entitled to share in the Net Settlement Fund.  If you have not yet received the Notice, you may obtain a copy of the Notice by contacting the Settlement Administrator at: MoneyLion Stockholder Litigation, c/o A.B. Data, Ltd., P.O. Box 173115, Milwaukee, WI 53217, or by telephone at 1-877-390-3144.  A copy of the Notice can also be downloaded from the Settlement website, www.MoneyLionStockholderSettlement.com.  

If the Settlement is approved by the Court and the Effective Date occurs, the Net Settlement Fund will be distributed on a pro rata basis to Class Members in accordance with the terms of the proposed Plan of Allocation stated in the Notice or such other plan of allocation as is approved by the Court.  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 will be bound by any judgment entered in the Action pursuant to the terms and conditions of the Stipulation.

Any objections to the Settlement, the proposed Plan of Allocation, or Plaintiffs' Counsel's application for the Fee and Expense Award must be filed with the Register in Chancery in the Court of Chancery of the State of Delaware and delivered to Plaintiffs' Counsel and Defendants' Counsel such that they are received no later than July 9, 2025, in accordance with the instructions set forth in the Notice.

Please do not contact the Court or the Office of the Register in Chancery regarding this Summary Notice. All questions about this Summary Notice, the Settlement, or your eligibility to participate in the Settlement should be directed to the Settlement Administrator or Plaintiffs' Counsel.

Requests for the Notice should be made to the Settlement Administrator:

MoneyLion Stockholder Litigation

c/o A.B. Data, Ltd.
P.O. Box 173115
Milwaukee, WI  53217
1-877-390-3144

Website: www.MoneyLionStockholderSettlement.com  

Inquiries, other than requests for the Notice, should be made to Plaintiffs' Counsel:

Kelly L. Tucker
Grant & Eisenhofer P.A.
123 Justison Street
Wilmington, DE  19801
Telephone: (302) 622-7000
Email: [email protected]

BY ORDER OF THE COURT OF CHANCERY
OF THE STATE OF
DELAWARE:

Dated: June 2, 2025

SOURCE Grant & Eisenhofer P.A.