Kahn Swick & Foti, LLC Announces Proposed Settlement Involving Purchasers of CarLotz, Inc. and/or Acamar Securities

NEW YORK, Feb. 17, 2025 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

TO: ALL PERSONS AND ENTITIES WHO purchased or otherwise acquired CARLOTZ, INC. or ACAMAR securities between OCTOBER 22, 2020, and MAY 26, 2021, inclusive:

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on June 10, 2025, at 1:00 p.m., before the Honorable Arun Subramanian in Courtroom 15A of the Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street, New York, NY 10007, for the purpose of determining: (1) whether the proposed Settlement for the combined sum of $13 million in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, after the hearing, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation and Agreement of Settlement dated as of January 24, 2025; (3) whether the proposed Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in this Action should be approved.

If you purchased CarLotz and/or Acamar securities between October 22, 2020, and May 26, 2021, inclusive, your rights may be affected by the Settlement of this Action. Please visit the website at www.CarLotzSecuritiesLitigation.com to obtain copies of the Notice of Pendency and Proposed Settlement of Class Action ("Notice") and the Proof of Claim and Release. You may also obtain copies of these documents by writing to CarLotz Securities Litigation, c/o Epiq Class Action & Claims Solutions, P.O. Box 2109, Portland, OR 97208-2109, or by calling the Claims Administrator at (888) 891-7677. The Notice contains details about this Action and Settlement, including what you must do to file a Proof of Claim, exclude yourself from the Settlement, or object to the Settlement. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release electronically by, or mail it postmarked no later than, May 2, 2025, establishing that you are entitled to recovery.

If you desire to be excluded from the Settlement Class, you must submit a Request for Exclusion postmarked by May 20, 2025, in the manner and form explained in the detailed Notice referred to above. All Members of the Settlement Class who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Action pursuant to the terms and conditions of the Stipulation of Settlement. Please note that if you exclude yourself from the Settlement Class and decide to pursue your own action individually, you may not be able to pursue certain claims due to the expiration of certain applicable statutes of repose. Your objection(s) must be mailed on or before May 20, 2025, to: Lead Counsel Kahn Swick & Foti, LLC, and Counsel for the Individual Defendants at the following addresses:

LEAD COUNSEL:

Lewis S. Kahn
KAHN SWICK & FOTI, LLC
1100 Poydras Street, Suite 960
New Orleans, LA 70163

Lead Counsel for Plaintiff and the Settlement Class

FOR THE INDIVIDUAL DEFENDANTS

Mary Eaton
FRESHFIELDS US LLP
3 World Trade Center
175 Greenwich St.
New York, NY 10007

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

URL: www.CarLotzSecuritiesLitigation.com

SOURCE Kahn Swick & Foti, LLC