Robbins Geller Rudman & Dowd, Robbins LLP and Grant & Eisenhofer P.A. Announce a Proposed Class Action Settlement for All Persons and Entities Who Purchased, Acquired, or Held InterPrivate Class A Common Stock Between August 16, 2019, and March 12, 2021, and Held Redeemable Common Stock on March 9, 2021

WILMINGTON, Del., June 30, 2025 /PRNewswire/ -- 

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

SUMMARY NOTICE OF PENDENCY AND
PROPOSED CLASS ACTION SETTLEMENT

TO:  ALL PERSONS AND ENTITIES WHO:

PURCHASED, ACQUIRED, OR HELD INTERPRIVATE CLASS A COMMON STOCK BETWEEN AUGUST 16, 2019 AND MARCH 12, 2021 AND HELD REDEEMABLE COMMON STOCK ON MARCH 9, 2021 (THE "CLASS" OR "CLASS MEMBERS") AND ARE NOT OTHERWISE EXCLUDED FROM THE CLASS.

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT JUNK MAIL, AN ADVERTISEMENT, OR SOLICITATION FROM A LAWYER.

PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.  YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THE LITIGATION.  PLEASE NOTE THAT IF YOU ARE A CLASS MEMBER, YOU MAY BE ENTITLED TO SHARE IN THE PROCEEDS OF THE SETTLEMENT DESCRIBED IN THIS NOTICE.  TO MAXIMIZE YOUR POTENTIAL RECOVERY, YOU MUST SUBMIT A VALID PROOF OF CLAIM AND RELEASE FORM ("PROOF OF CLAIM") POSTMARKED, SUBMITTED ONLINE, OR RECEIVED ON OR BEFORE SEPTEMBER 11, 2025.

YOU ARE HEREBY NOTIFIED that a hearing will be held on September 12, 2025, at 1:30 p.m. ET, before the Honorable Lori W. Will, Court of Chancery of the State of Delaware, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, DE  19801, to determine whether: (1) the proposed settlement (the "Settlement") of the action pending in the Delaware Court of Chancery styled as In re InterPrivate Acquisition Corp. Stockholder Litig., Consol. C.A. No. 2024-0221-LWW (the "Action") as set forth in the Stipulation of Settlement dated December 6, 2024 ("Stipulation"), as amended April 28, 2025¹ for $14,000,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered with prejudice; (3) to award Plaintiffs' Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of: (I) Pendency and Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys' Fees and Expenses ("Notice"), which is discussed below), and, if so, in what amount; and (4) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

This Summary Notice relates to a proposed settlement of claims in a consolidated class action brought by investors in InterPrivate Acquisition Corp. Class A Common Stock.  The Action alleges that Defendants violated applicable law by breaching their fiduciary duties and impairing InterPrivate shareholders' redemption and voting rights, including through proxy solicitation materials containing false and misleading representations and omissions, resulting in damages to Class Members.  Defendants deny each and every claim and contention alleged in the Actions and deny any misconduct or wrongdoing whatsoever.

IF YOU PURCHASED OR OTHERWISE ACQUIRED INTERPRIVATE CLASS A COMMON STOCK BETWEEN AUGUST 16, 2019 AND MARCH 12, 2021 AND HELD REDEEMABLE COMMON STOCK ON MARCH 9, 2021, YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THE LITIGATION.

To maximize your distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form ("Proof of Claim") by mail (postmarked or received no later than September 11, 2025) or electronically via the website (no later than September 11, 2025). Your failure to submit your Proof of Claim by September 11, 2025, will subject your claim to rejection and preclude your receiving your full pro rata share of the recovery in connection with the Settlement of the Actions.  If you are a member of the Class, you will be bound by the Settlement and any judgment and releases entered in the Actions, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other settlement documents, online at www.InterPrivateStockholderSettlement.com, or by writing to:

InterPrivate Stockholder Settlement
Settlement Administrator
c/o A.B. Data, Ltd.
P.O. Box 173040
Milwaukee, WI  53217

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.  Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to Plaintiffs' Counsel:

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFFS' COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES, AND/OR THE AWARD TO PLAINTIFFS FOR REPRESENTING THE CLASS.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO PLAINTIFFS' COUNSEL AND DEFENDANTS' COUNSEL BY AUGUST 21, 2025, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

PLEASE NOTE: The Class is a non-opt-out settlement 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.

DATED: June 13, 2025      BY ORDER OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE

¹ The Stipulation can be viewed and/or obtained at www.InterPrivateStockholderSettlement.com. All capitalized terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Stipulation.

SOURCE Robbins Geller Rudman & Dowd LLP, Robbins LLP and Grant & Eisenhofer P.A.